Greystone Housing Impact Investors (GHI) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2024 shares
Cover [Abstract]
Entity Registrant Name	GREYSTONE HOUSING IMPACT INVESTORS LP
Entity Central Index Key	0001059142
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Units Outstanding	23,290,442
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-41564
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0810385
Entity Address, Address Line One	14301 FNB Parkway
Entity Address, Address Line Two	Suite 211
Entity Address, City or Town	Omaha
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68154
City Area Code	402
Local Phone Number	952-1235
Document Quarterly Report	true
Document Transition Report	false
Title of each class	Beneficial Unit Certificates representing assignments of limited partnership interests in Greystone Housing Impact Investors LP
Trading Symbol	GHI
Name of each exchange on which registered	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)		Jun. 30, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents		$ 34,036,426	$ 37,918,237
Restricted cash		16,860,718	9,815,909
Interest receivable, net		7,193,344	8,265,901
Mortgage revenue bonds held in trust, at fair value (Note 4)		990,067,074	883,030,786
Mortgage revenue bonds, at fair value (Note 4)		11,984,951	47,644,509
Governmental issuer loans:
Governmental issuer loans held in trust (Note 5)		214,557,300	222,947,300
Allowance for credit losses (Note 10)		(1,111,000)	(1,294,000)
Governmental issuer loans, net		213,446,300	221,653,300
Property loans:
Property loans (Note 6)		63,306,149	122,556,204
Allowance for credit losses (Note 10)		(1,948,000)	(2,048,000)
Property loans, net		61,358,149	120,508,204
Investments in unconsolidated entities (Note 7)		157,940,664	136,653,246
Real estate assets, net (Note 8)		4,716,140	4,716,140
Other assets (Note 9)		31,037,954	43,194,470
Total Assets	[1]	1,528,641,720	1,513,400,702
Liabilities:
Accounts payable, accrued expenses and other liabilities (Note 11)		21,215,235	22,958,088
Distribution payable		8,704,438	8,584,292
Secured lines of credit (Note 12)		41,250,000	33,400,000
Debt financing, net (Note 13)		1,052,526,098	1,015,030,066
Mortgages payable, net (Note 14)		1,690,000	1,690,000
Total Liabilities	[1]	1,125,385,771	1,081,662,446
Commitments and Contingencies (Note 16)
Redeemable Preferred Units, $77.5 million redemption value, 7.8 million issued and outstanding, net (Note 17)		77,395,065	82,431,548
Partnersʼ Capital:
General Partner (Note 1)		294,615	543,977
Beneficial Unit Certificates (Note 1)		325,566,269	348,762,731
Total Partnersʼ Capital		325,860,884	349,306,708
Total Liabilities and Partnersʼ Capital		$ 1,528,641,720	$ 1,513,400,702
[1] The consolidated balance sheets include assets of consolidated VIEs that can only be used to settle obligations of these VIEs that totaled $ 1,281,485,410 and $ 1,247,819,817 as of June 30, 2024 and December 31, 2023, respectively. The consolidated balance sheets include liabilities of the consolidated VIEs for which creditors do not have recourse to the general credit of the Partnership that totaled $ 372,228,109 and $ 374,992,803 as of June 30, 2024 and December 31, 2023, respectively. See Note 3 - Variable Interest Entities for further detail.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions		Jun. 30, 2024	Dec. 31, 2023
Redeemable preferred units redemption value		$ 77,500,000	$ 77,500,000
Redeemable preferred units, issued		7.8	7.8
Redeemable preferred units, outstanding		7.8	7.8
Assets	[1]	$ 1,528,641,720	$ 1,513,400,702
Liabilities	[1]	1,125,385,771	1,081,662,446
Variable Interest Entity, Primary Beneficiary [Member]
Assets		1,281,485,410	1,247,819,817
Liabilities		1,065,805,460	1,028,660,379
Variable Interest Entity, Primary Beneficiary [Member] | Nonrecourse [Member]
Liabilities		$ 372,228,109	$ 374,992,803
[1] The consolidated balance sheets include assets of consolidated VIEs that can only be used to settle obligations of these VIEs that totaled $ 1,281,485,410 and $ 1,247,819,817 as of June 30, 2024 and December 31, 2023, respectively. The consolidated balance sheets include liabilities of the consolidated VIEs for which creditors do not have recourse to the general credit of the Partnership that totaled $ 372,228,109 and $ 374,992,803 as of June 30, 2024 and December 31, 2023, respectively. See Note 3 - Variable Interest Entities for further detail.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Investment income	$ 19,827,388	$ 22,415,771	$ 39,099,733	$ 41,718,456
Other interest income	2,070,487	4,646,347	5,074,325	9,056,012
Property revenues		1,108,356		2,333,976
Other income	71,296	133,467	165,767	133,467
Total revenues	21,969,171	28,303,941	44,339,825	53,241,911
Expenses:
Real estate operating (exclusive of items shown below)	0	614,692	0	1,216,945
Provision for credit losses (Note 10)	19,692	(774,000)	(786,308)	(1,319,000)
Depreciation and amortization	5,966	405,408	11,933	810,389
Interest expense	14,898,265	17,602,230	28,702,200	34,290,592
Net result from derivative transactions (Note 15)	(1,884,934)	(8,613,747)	(8,152,598)	(7,330,611)
General and administrative	4,821,427	5,109,419	9,751,815	10,182,006
Total expenses	17,860,416	14,344,002	29,527,042	37,850,321
Other Income:
Gain on sale of real estate assets	63,739		63,739
Gain on sale of mortgage revenue bond	1,012,581		1,012,581
Gain on sale of investments in unconsolidated entities	6,986	7,326,084	56,986	22,693,013
Earnings (losses) from investments in unconsolidated entities	(14,711)		(121,556)
Income before income taxes	5,177,350	21,286,023	15,824,533	38,084,603
Income tax expense (benefit)	(786)	(1,149)	(1,984)	6,209
Net income	5,178,136	21,287,172	15,826,517	38,078,394
Redeemable Preferred Unit distributions and accretion	(741,477)	(799,182)	(1,508,718)	(1,545,832)
Net income available to Partners	4,436,659	20,487,990	14,317,799	36,532,562
Net income available to Partners allocated to:
General Partner	44,297	1,010,088	142,608	3,489,146
Net income available to Partners and noncontrolling interest	$ 4,436,659	$ 20,487,990	$ 14,317,799	$ 36,532,562
BUC holders' interest in net income per BUC, basic	$ 0.19	$ 0.84	$ 0.61	$ 1.43
BUC holders' interest in net income per BUC, diluted	$ 0.19	$ 0.84	$ 0.61	$ 1.43
Weighted average number of BUCs outstanding, basic	23,083,387	22,924,031	23,042,071	22,924,056
Weighted average number of BUCs outstanding, diluted	23,083,387	22,924,031	23,042,071	22,924,056
Beneficial Unit Certificate Holders [Member]
Net income available to Partners allocated to:
Limited Partners	$ 4,323,465	$ 19,323,960	$ 14,048,562	$ 32,814,794
Restricted Unitholders [Member]
Net income available to Partners allocated to:
Limited Partners	$ 68,897	$ 153,942	$ 126,629	$ 228,622

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements Of Comprehensive Income [Abstract]
Net income	$ 5,178,136	$ 21,287,172	$ 15,826,517	$ 38,078,394
Reclassification of gain on sale of mortgage revenue bond to net income	(1,012,581)		(1,012,581)
Unrealized gains (losses) on securities	(9,595,397)	(11,499,570)	(21,604,134)	8,897,972
Unrealized gains (losses) on bond purchase commitments	(88,591)	(73,376)	(151,550)	39,171
Comprehensive income (loss)	$ (5,518,433)	$ 9,714,226	$ (6,941,748)	$ 47,015,537

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Partners' Capital (Unaudited) - USD ($)	Total	Tier 2 [Member]	Tier 3 [Member]	General Partner [Member]	General Partner [Member] Tier 2 [Member]	BUCs - Restricted and Unrestricted [Member]	BUCs - Restricted and Unrestricted [Member] Tier 2 [Member]	BUCs - Restricted and Unrestricted [Member] Tier 3 [Member]	Number of BUCs - Restricted and Unrestricted [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2022	$ 323,955,517			$ 285,571		$ 323,669,946				$ 43,748,239
Cumulative effect of accounting change (Note 2)	(5,949,000)			(59,490)		(5,889,510)
Partners' Capital Account, Units at Dec. 31, 2022									23,011,517
Distributions paid or accrued:
Regular distribution	(1,175,563)			(11,756)		(1,163,807)
Distribution of income (Note 22) and (Note 23)		$ (9,660,884)			$ (2,415,221)		$ (7,245,663)
Cash paid in lieu of fractional BUCs	(2,639)					(2,639)
Net income allocable to Partners	16,044,572			2,479,058		13,565,514
Restricted units awarded									102,087
Rounding of BUCs related to BUCs Distributions/Reverse Unit Split									(151)
Restricted unit compensation expense	349,959			3,500		346,459
Unrealized gains (losses) on securities	20,397,542			203,975		20,193,567				20,397,542
Unrealized gains (losses) on bond purchase commitments	112,547			1,125		111,422				112,547
Balance at Mar. 31, 2023	344,072,051			486,762		343,585,289				64,258,328
Partners' Capital Account, Units at Mar. 31, 2023									23,113,453
Balance at Dec. 31, 2022	323,955,517			285,571		323,669,946				43,748,239
Partners' Capital Account, Units at Dec. 31, 2022									23,011,517
Distributions paid or accrued:
Net income allocable to Partners	36,532,562
Unrealized gains (losses) on bond purchase commitments	39,171
Balance at Jun. 30, 2023	344,252,165			488,564		343,763,601				52,685,382
Partners' Capital Account, Units at Jun. 30, 2023									23,115,608
Balance at Mar. 31, 2023	344,072,051			486,762		343,585,289				64,258,328
Partners' Capital Account, Units at Mar. 31, 2023									23,113,453
Distributions paid or accrued:
Regular distribution	(2,002,209)			(20,022)		(1,982,187)
Distribution of income (Note 22) and (Note 23)		$ (3,513,629)	$ (3,806,269)		$ (878,407)		$ (2,635,222)	$ (3,806,269)
Net income allocable to Partners	20,487,990			1,010,088		19,477,902
Restricted units awarded									2,155
Restricted unit compensation expense	587,177			5,871		581,306
Unrealized gains (losses) on securities	(11,499,570)			(114,995)		(11,384,575)				(11,499,570)
Unrealized gains (losses) on bond purchase commitments	(73,376)			(733)		(72,643)				(73,376)
Balance at Jun. 30, 2023	344,252,165			488,564		343,763,601				52,685,382
Partners' Capital Account, Units at Jun. 30, 2023									23,115,608
Balance at Dec. 31, 2023	349,306,708			543,977		348,762,731				59,604,899
Partners' Capital Account, Units at Dec. 31, 2023									23,088,268
Distributions paid or accrued:
Regular distribution	(8,622,287)			(86,223)		(8,536,064)
Distribution of income (Note 22) and (Note 23)			(50,000)					(50,000)
Cash paid in lieu of fractional BUCs	(1,772)					(1,772)
Net income allocable to Partners	9,881,140			98,311		9,782,829
Sale of BUCs, net of issuance costs, Value	1,055,267					1,055,267
Sale of BUCs, net of issuance costs, Units									64,765
Restricted units awarded									109,581
Rounding of BUCs related to BUCs Distributions/Reverse Unit Split									(105)
Restricted unit compensation expense	332,321			3,323		328,998
Unrealized gains (losses) on securities	(12,008,737)			(120,087)		(11,888,650)				(12,008,737)
Unrealized gains (losses) on bond purchase commitments	(62,959)			(630)		(62,329)				(62,959)
Balance at Mar. 31, 2024	339,829,681			438,671		339,391,010				47,533,203
Partners' Capital Account, Units at Mar. 31, 2024									23,262,509
Balance at Dec. 31, 2023	349,306,708			543,977		348,762,731				59,604,899
Partners' Capital Account, Units at Dec. 31, 2023									23,088,268
Distributions paid or accrued:
Net income allocable to Partners	14,317,799
Unrealized gains (losses) on bond purchase commitments	(151,550)
Reclassification of gain on sale of mortgage revenue bond to net income	(1,012,581)
Balance at Jun. 30, 2024	325,860,884			294,615		325,566,269				36,836,634
Partners' Capital Account, Units at Jun. 30, 2024									23,290,442
Balance at Mar. 31, 2024	339,829,681			438,671		339,391,010				47,533,203
Partners' Capital Account, Units at Mar. 31, 2024									23,262,509
Distributions paid or accrued:
Regular distribution	(8,697,451)			(86,974)		(8,610,477)
Distribution of income (Note 22) and (Note 23)			$ (6,986)					$ (6,986)
Cash paid in lieu of fractional BUCs	(1,696)					(1,696)
Net income allocable to Partners	4,436,659			44,297		4,392,362
Sale of BUCs, net of issuance costs, Value	438,685					438,685
Sale of BUCs, net of issuance costs, Units									28,037
Rounding of BUCs related to BUCs Distributions/Reverse Unit Split									(104)
Restricted unit compensation expense	558,561			5,586		552,975
Unrealized gains (losses) on securities	(9,595,397)			(95,954)		(9,499,443)				(9,595,397)
Unrealized gains (losses) on bond purchase commitments	(88,591)			(885)		(87,706)				(88,591)
Reclassification of gain on sale of mortgage revenue bond to net income	(1,012,581)			(10,126)		(1,002,455)				(1,012,581)
Balance at Jun. 30, 2024	$ 325,860,884			$ 294,615		$ 325,566,269				$ 36,836,634
Partners' Capital Account, Units at Jun. 30, 2024									23,290,442

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Partners' Capital (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Regular distributions paid or accrued	$ 0.37	$ 0.368	$ 0.364	$ 0.364

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 15,826,517	$ 38,078,394
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	11,933	810,389
Amortization of deferred financing costs	827,351	1,398,749
Gain on sale of investments in unconsolidated entities	(56,986)	(22,693,013)
(Earnings) losses from investments in unconsolidated entities	121,556
Gain on sale of real estate assets	(63,739)
Gain on sale of mortgage revenue bond	(1,012,581)
Provision for credit losses	(786,308)	(1,319,000)
Recovery of prior credit loss	(34,500)	(34,312)
Gains on derivative instruments, net of cash paid	(4,712,203)	(2,568,882)
Restricted unit compensation expense	890,882	937,136
Bond premium, discount and acquisition fee amortization	(84,396)	(108,918)
Debt premium amortization	(20,243)	(20,286)
Deferred income tax expense (benefit) & income tax payable/receivable	(1,986)	6,209
Change in preferred return receivable from unconsolidated entities, net	(2,779,191)	(2,375,014)
Changes in operating assets and liabilities
Decrease in interest receivable	1,072,557	398,447
Decrease in other assets	547,582	808,666
Decrease in accounts payable, accrued expenses and other liabilities	(1,314,943)	(293,182)
Net cash provided by operating activities	8,431,302	13,025,383
Cash flows from investing activities:
Advances on mortgage revenue bonds	(104,672,860)	(111,787,688)
Advances on taxable mortgage revenue bonds	(6,077,000)	(6,319,875)
Advances on governmental issuer loans	(15,000,000)	(37,779,468)
Advances on taxable governmental issuer loans		(5,573,000)
Advances on property loans	(13,526,733)	(17,839,242)
Contributions to unconsolidated entities	(18,629,783)	(8,449,792)
Capital expenditures		(460,303)
Proceeds from sale of land held for development		441,714
Proceeds from sale of the Suites on Paseo MF Property	63,739
Proceeds from sale of a mortgage revenue bond	8,221,234
Proceeds from sale of investments in unconsolidated entities	56,986	44,010,188
Principal payments received on mortgage revenue bonds	3,863,744	14,821,610
Principal payments received on governmental issuer loans	23,390,000	34,000,000
Principal payments received on taxable mortgage revenue bonds	11,506,189
Principal payments received on taxable governmental issuer loans	10,573,000	5,658
Principal payments received on property loans	72,776,788	48,305,691
Net cash used in investing activities	(27,454,696)	(46,624,507)
Cash flows from financing activities:
Distributions paid	(18,640,914)	(23,186,928)
Proceeds from the sale of BUCs	1,532,484
Payment of offering costs related to the sale of BUCs	(30,662)
Proceeds from debt financing	138,610,000	194,772,000
Principal payments on debt financing	(101,151,225)	(99,847,240)
Principal borrowing on secured lines of credit	84,250,000	89,600,000
Principal payments on secured lines of credit	(76,400,000)	(132,600,000)
Decrease in security deposit liability related to restricted cash		(28,050)
Proceeds upon issuance of Redeemable Preferred Units	5,000,000	18,000,000
Payment upon redemption of Redeemable Preferred Units	(10,000,000)
Debt financing and other deferred costs paid	(983,291)	(737,004)
Net cash provided by financing activities	22,186,392	45,972,778
Net increase in cash, cash equivalents and restricted cash	3,162,998	12,373,654
Cash, cash equivalents and restricted cash at beginning of period	47,734,146	92,637,256
Cash, cash equivalents and restricted cash at end of period	50,897,144	105,010,910
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	24,668,956	27,027,005
Supplemental disclosure of noncash investing and financing activities:
Distributions declared but not paid for BUCs and General Partner	8,704,438	9,322,108
Distributions declared but not paid for Preferred Units	735,938	792,083
Exchange of Redeemable Preferred Units	17,500,000	7,000,000
Deferred financing costs financed through accounts payable	$ 89,670	255,217
Non-cash contribution to unconsolidated entity		997,062
Capital expenditures financed through accounts payable		$ 1,026

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 34,036,426	$ 59,246,152
Restricted cash	16,860,718	45,764,758
Total cash, cash equivalents and restricted cash	$ 50,897,144	$ 105,010,910

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Basis Of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The Partnership was formed on April 2, 1998, under the Delaware Revised Uniform Limited Partnership Act primarily for the purpose of acquiring, holding, selling and otherwise dealing with a portfolio of MRBs that have been issued to provide construction and/or permanent financing for affordable multifamily and student housing residential properties and commercial properties. The Partnership has also invested in GILs, which are similar to MRBs, to provide construction financing for affordable multifamily properties. The Partnership expects and believes the interest earned on these MRBs and GILs is excludable from gross income for federal income tax purposes. The Partnership may also invest in other types of securities, including taxable MRBs and taxable GILs secured by real estate and may make property loans to multifamily residential properties which may or may not be financed by MRBs or GILs held by the Partnership and may or may not be secured by real estate. The Partnership also makes noncontrolling equity investments in unconsolidated entities for the construction, stabilization, and ultimate sale of market-rate multifamily properties. The Partnership is entitled to distributions if, and when, cash is available for distribution either through operations, a refinance or a sale of the property. In addition, the Partnership may acquire and hold interests in MF Properties until the “highest and best use” can be determined by management. The Partnership has issued BUCs representing assigned limited partnership interests to investors. The Partnership has designated three series of non-cumulative, non-voting, non-convertible preferred units that represent limited partnership interests in the Partnership consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The outstanding Preferred Units are redeemable in the future at the option of either the holders or the Partnership (Note 17). On December 5, 2022, America First Capital Associates Limited Partnership Two , in its capacity as the General Partner of the Partnership, and Greystone ILP, Inc., in its capacity as the initial limited partner of the Partnership, entered into the Partnership Agreement. Mortgage investments, as defined in the Partnership Agreement, consist of MRBs, taxable MRBs, GILs, taxable GILs and property loans. The Partnership Agreement authorizes the Partnership to make investments in tax-exempt securities other than mortgage investments provided that the tax-exempt investments are rated in one of the four highest rating categories by a national securities rating agency. The Partnership Agreement also allows the Partnership to invest in other securities whose interest may be taxable for federal income tax purposes. Total tax-exempt investments and other investments cannot exceed 25 % of the Partnership's total assets at the time of acquisition as required under the Partnership Agreement. Tax-exempt investments and other investments primarily consist of real estate assets and investments in unconsolidated entities. In addition, the amount of other investments is limited based on the conditions to the exemption from registration under the Investment Company Act of 1940. The General Partner is the sole general partner of the Partnership. Greystone Manager, the general partner of the General Partner, is an affiliate of Greystone. All disclosures of the number of rental units for properties related to MRBs, GILs, property loans and MF Properties are unaudited.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Summary Of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Consolidation The “Partnership,” as used herein, includes Greystone Housing Impact Investors LP, its consolidated subsidiaries and consolidated variable interest entities (Note 3). All intercompany transactions are eliminated. The consolidated subsidiaries of the Partnership for the periods presented consist of: • ATAX TEBS I, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M24 TEBS Financing with Freddie Mac; • ATAX TEBS II, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M31 TEBS Financing with Freddie Mac; • ATAX TEBS III, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M33 TEBS Financing with Freddie Mac; • ATAX TEBS IV, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M45 TEBS Financing with Freddie Mac; • ATAX TEBS Holdings, LLC, a wholly owned subsidiary of the Partnership, which issued Secured Notes to Mizuho; • ATAX Vantage Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • ATAX Freestone Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • ATAX Senior Housing Holdings I, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of seniors housing properties; • ATAX Great Hill Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • Greens Hold Co, a wholly owned corporation, which owns certain property loans and owned 100 % of The 50/50 MF Property, a real estate asset; and • Lindo Paseo LLC, a wholly owned limited liability company, which owned 100 % of the Suites on Paseo MF Property. Use of Estimates and Assumptions in Preparation of Consolidated Financial Statements The preparation of financial statements in conformity with GAAP requires the Partnership to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such SEC rules and regulations, although the Partnership believes that the disclosures are adequate to make the information presented not misleading. The most significant estimates and assumptions include those used in determining: (i) the fair value of MRBs and taxable MRBs; (ii) investment impairments; and (iii) allowances for credit losses. The Partnership’s condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2023. These condensed consolidated financial statements and notes have been prepared consistently with the 2023 Form 10-K. In the opinion of management, all adjustments (consisting of normal and recurring accruals) necessary to present fairly the Partnership’s financial position as of June 30, 2024, and the results of operations for the interim periods presented, have been made. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying condensed consolidated balance sheet as of December 31, 2023 was derived from the audited annual consolidated financial statements but does not contain all the footnote disclosures from the annual consolidated financial statements. Risks and Uncertainties The Federal Reserve has recently maintained rates at the current levels as it analyzes further employment, price and economic data for indications of inflation declining to its long-term annual inflation target of 2 %. The Federal Reserve continues to reduce its balance sheet of US treasury bonds and mortgage-backed securities which may cause further upward pressure on interest rates. In addition, geopolitical conflicts continue to impact the general global economic environment. These factors have maintained volatility in the fixed income markets, which has impacted the value of some of the Partnership’s investment assets, particularly those with fixed interest rates, which may result in collateral posting requirements under our debt financing arrangements. In addition, increases in short-term interest rates will generally result in increases in the interest cost associated with the Partnership’s variable rate debt financing arrangements and for construction debt of properties underlying our investments in unconsolidated entities. The extent to which general economic, geopolitical, and financial conditions will impact the Partnership’s financial condition or results of operations in the future is uncertain and actual results and outcomes could differ from current estimates. The recent inflationary environment in the United States may increase operating expenses at properties securing the Partnership’s inve stments and general operations, which may reduce net operating results of the related properties and result in lower debt service coverage or higher than anticipated capitalized interest requirements for properties under construction. Such occurrences may negatively impact the value of the Partnership’s investments. Increasing general and administrative expenses of the Partnership may adversely affect the Partnership’s operating results, including a reduction in net income. Furthe rmore, the potential for an economic recession either globally or locally in the U.S. or other economies could further impact the valuation of our investment assets, limit the Partnership’s ability to obtain additional debt financing from lenders, and limit opportunities for additional investments. BUCs The Partnership has issued BUCs representing assigned limited partnership interests to investors. Costs related to the issuance of BUCs are recorded as a reduction to partners’ capital when issued. The Partnership declared BUCs Distributions in the form of additional BUCs during the six months ended June 30, 2024 and the year ended December 31, 2023. All fractional BUCs resulting from the BUCs Distributions received cash for such fraction based on the market value of the BUCs on the record date. The BUCs Distributions have been applied retroactively to all net income per BUC, distributions per BUC and similar per BUC disclosures for all periods indicated in the Partnership’s condensed consolidated financial statements. Reclassification Certain prior year amounts have been reclassified for consistency with the current period presentation. For the year ended December 31, 2023, the Partnership began reporting the realized and unrealized (gains) losses of its derivative transactions within “Net result from derivative transactions” on the Partnership’s consolidated statements of operations. Previously, the realized and unrealized (gains) losses of the Partnership's derivative transactions had been reported within "Interest expense" on the Partnership’s consolidated statement of operations. Accordingly, for the three and six months ended June 30, 2023, the Partnership has included the realized and unrealized (gains) losses of its derivative transactions within “Net result from derivative transactions” in conformity with the current reporting period presented herein. This reclassification has no effect on the Partnership’s reported “Net income” or “Partners’ capital” in the Partnership’s condensed consolidated financial statements for the periods presented. Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, which enhances the disclosures about a public entity’s reportable segments and addresses requests from investors for additional, more detailed information about a reportable segment’s expenses. ASU 2023-07 is effective for the Partnership’s annual periods beginning after December 15, 2023 and interim periods with fiscal years beginning after December 15, 2024. The Partnership is currently assessing the impact of the adoption of this pronouncement on the consolidated financial statements.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2024
Variable Interest Entities [Abstract]
Variable Interest Entities	3. Variable Interest Entities See section under the heading “ Variable Interest Entities ” within Note 2 of the consolidated financial statements in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2023 for the Partnership’s policies regarding accounting for Variable Interest Entities. Non-Consolidated Variable Interest Entities The Partnership acquires investments in the form of MRBs, taxable MRBs, GILs, taxable GILs, and property loans to finance the construction and/or operation of affordable multifamily properties that are obligations of the property-owning entity, which is considered the borrower entity. The Partnership’s individual investment assets are considered debt obligations of each individual borrower entity, and the investment assets are secured by a mortgage on real and personal property of the respective borrower entity. The Partnership’s associated investment asset(s) is considered a variable interest in the borrower entity as the Partnership will absorb losses of the VIEs if the borrower entities are unable to repay the outstanding principal of the respective MRBs, taxable MRBs, GILs, taxable GILs, and property loans. The Partnership evaluates whether each borrower entity is a VIE under the accounting guidance, and if so, the Partnership performs an evaluation to determine if the Partnership is the primary beneficiary of the VIE. When evaluating whether the Partnership is the primary beneficiary of a VIE, the Partnership identifies the rights that grant the power to direct the activities that most significantly impact the VIE’s economic performance, which are those rights to manage regular property operations of the VIE, to sell the assets of the VIE, or to refinance the debt of the VIE. Generally, all such rights are held by the equity investors in the VIE and not the Partnership. As a result, the Partnership is not considered the primary beneficiary and does not consolidate the financial statements of these VIEs in the Partnership’s condensed consolidated financial statements. The Partnership reports its investments in the MRBs, taxable MRBs, GILs, taxable GILs, and property loans on the Partnership’s consolidated balance sheet and the related interest income on the Partnership’s consolidated statement of operations. The Partnership also makes equity investments in entities formed for the construction, operation and sale of market-rate multifamily or seniors housing properties (Note 7). The Partnership’s equity investments in these VIEs are considered variable interests as the Partnership, and the respective managing members, are entitled to returns and absorb losses from the underlying properties according to the entities’ respective operating agreements. The Partnership has determined that the underlying investee entities are VIEs for financial reporting purposes and the Partnership performs an evaluation to determine if the Partnership is the primary beneficiary of the VIE. The Partnership and the respective managing members have various rights within the respective operating agreement for each VIE. When evaluating whether the Partnership is the primary beneficiary of a VIE, it identifies the rights that grant the power to direct the activities that most significantly impact the VIE’s performance, which are those rights to manage regular property operations of the VIE, to sell the assets of the VIE, or to refinance the debt of the VIE. Generally, all such rights are held by the managing members of the VIE. In addition, the Partnership does not have kick-out rights or substantive participating rights. As a result, the Partnership is not considered the primary beneficiary and does not consolidate the financial statements of these VIEs in the Partnership’s condensed consolidated financial statements, with one exception as disclosed in the “ Consolidated Variable Interest Entities ” section below. The Partnership reports its equity investments in the VIEs as “Investments in unconsolidated entities” on the Partnership’s consolidated balance sheet and the related preferred return, earnings (losses) from investments in unconsolidated entities, and gains on sale on the Partnership’s consolidated statement of operations. The Partnership held variable interests in 30 and 33 non-consolidated VIEs as of June 30, 2024 and December 31, 2023, respectively. The following table summarizes the Partnership’s carrying value by asset and maximum exposure to loss associated with the variable interests as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Carrying Value Maximum Carrying Value Maximum Mortgage revenue bonds held in trust $ 157,707,267 $ 153,571,233 $ 101,785,909 $ 95,186,213 Mortgage revenue bonds - - 3,450,188 3,150,000 Taxable mortgage revenue bonds (reported within other assets) 2,982,399 3,011,729 13,488,560 13,520,631 Governmental issuer loans held in trust 194,157,300 194,157,300 202,547,300 202,547,300 Taxable governmental issuer loans (reported within other assets) 3,000,000 3,000,000 13,573,000 13,573,000 Property loans 40,332,992 40,332,992 107,511,750 107,511,750 Investments in unconsolidated entities 157,940,664 157,940,664 136,653,246 136,653,246 $ 556,120,622 $ 552,013,918 $ 579,009,953 $ 572,142,140 The Partnership’s maximum exposure to loss for non-consolidated VIEs associated with the MRBs and taxable MRBs as of June 30, 2024 and December 31, 2023 is equal to the Partnership’s cost basis adjusted for paydowns. The difference between the carrying values in the Partnership's condensed consolidated balance sheets and the maximum exposure to loss is due to the unrealized gains or losses. The Partnership has future MRB and taxable MRB funding commitments related to non-consolidated VIEs totaling $ 81.8 million and $ 15.4 million , respectively, as of June 30, 2024 (Note 16). The Partnership’s maximum exposure to loss for non-consolidated VIEs associated with GILs, taxable GILs, property loans and investments in unconsolidated entities as of June 30, 2024 and December 31, 2023 is equal to the Partnership’s carrying value. The Partnership has future GIL, taxable GIL, property loan and investment in unconsolidated entities funding commitments related to non-consolidated VIEs totaling $ 36.1 million , $ 53.6 million , $ 1.0 million , and $ 36.7 million , respectively, as of June 30, 2024 (Note 16). Consolidated Variable Interest Entities The Partnership obtains leverage on its investment assets to enhance returns and lower its net capital investment. The Partnership’s leverage programs generally consist of selling MRBs, taxable MRBs, GILs, taxable GILs, and property loans into debt financing entities in the form of TOBs, a term TOB, TEBS financings, and the TEBS Residual Financing. These debt financing entities issue senior securities and residual beneficial interests that share in the cash flows from the securitized investment assets. The senior securities are sold to third-party investors for cash and the Partnership retains the residual beneficial interests. The Partnership determined that its residual beneficial interest in a debt financing entity absorbs potential losses of the entity as the interests are in a first-loss position and subordinate to the senior securities in the distribution of cash flows of the debt financing entity. The Partnership has determined that each debt financing entity is a VIE for financial reporting purposes and the Partnership performs an evaluation to determine if the Partnership is the primary beneficiary of the VIE. In determining the primary beneficiary of each VIE, the Partnership considered which party has the power to control the activities of the VIE which most significantly impact its financial performance and the obligation to absorb losses or rights to receive benefits of the entity that could potentially be significant to the VIE. The Partnership determined that the right to direct the VIE to sell the underlying assets most significantly impacts the economic performance of the VIE, and such right is held by the Partnership through its ownership of the residual beneficial interest. The Partnership has the obligation to absorb losses that could potentially be significant to the VIE given its first-loss position noted previously. As the Partnership meets both primary beneficiary criteria, it is considered the primary beneficiary of the VIEs and reports the VIEs on a consolidated basis. The Partnership reports the underlying investment assets of the VIEs in the Partnership’s assets (Notes 4, 5, 6 and 9) and the senior securities of the VIEs are reported as “Debt financing, net” (Note 13) on the Partnership’s consolidated balance sheets. The interest income earned from the underlying investment assets of the VIEs is reported within “Investment income” and “Other interest income” on the Partnership’s consolidated statement of operations. Interest expense and facility fees associated with the debt financing are reported within “Interest expense” on the Partnership’s consolidated statement of operations. As noted previously, the Partnership also makes equity investments in certain entities formed for the construction, operation and sale of market-rate multifamily or seniors housing properties (Note 7). The investee entities are VIEs for financial reporting purposes and the Partnership is typically not considered the primary beneficiary, making such entities non-consolidated VIEs. Within one of the Partnership’s equity investments, Vantage at San Marcos, the Partnership has additional rights compared to its other equity investments and such rights are considered in the Partnership’s assessment of the primary beneficiary of the VIE. In determining the primary beneficiary of the VIEs, the Partnership considered which party has the power to control the activities of the VIE which most significantly impact its financial performance and the obligation to absorb losses or rights to receive benefits of the entity that could potentially be significant to the VIE. For the Vantage at San Marcos investee, the Partnership can currently require the managing member of the VIE to purchase the Partnership’s equity investment in the VIE at a price equal to the Partnership’s carrying value. The only assets of the VIE are land and capitalized development costs such that if the Partnership were to require the managing member to purchase its equity investment, all underlying assets of the VIE would likely need to be sold, which would significantly impact the VIE’s economic performance. The Partnership would be exposed to gains or losses of the VIE based on the sales price of the underlying asset in relation to the Partnership’s equity investment. As the Partnership meets both the primary beneficiary criteria for the Vantage at San Marcos investee, it is considered the primary beneficiary of the VIE and reports the VIE on a consolidated basis. The Partnership reports the land and capitalized development costs of the VIE within “Real estate assets, net” and a mortgage loan on the property within “Mortgages payable, net” on the Partnership’s consolidated balance sheets. The VIE has not reported any income or expenses during the years ended December 31, 2023 and 2022. If certain events occur in the future, the Partnership’s option to redeem the investment will terminate and the VIE may be deconsolidated. The following table summarizes the assets and liabilities of the Partnership’s consolidated VIEs as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Assets: Restricted cash $ 30,605 $ 12,605 Interest receivable, net 6,710,673 6,920,851 Mortgage revenue bonds held in trust, at fair value 990,067,074 883,030,786 Governmental issuer loans Governmental issuer loans held in trust 214,557,300 222,947,300 Allowance for credit losses ( 1,111,000 ) ( 1,294,000 ) Governmental issuer loans, net 213,446,300 221,653,300 Property loans Property loans 48,451,538 108,271,420 Allowance for credit losses ( 305,000 ) ( 675,000 ) Property loans, net 48,146,538 107,596,420 Real estate assets 3,606,658 3,606,658 Other assets 19,477,562 24,999,197 Total Assets $ 1,281,485,410 $ 1,247,819,817 Liabilities: Accounts payable, accrued expenses and other liabilities (1) $ 8,362,553 $ 8,656,003 Debt financing (2) 1,055,752,907 1,018,314,376 Mortgages payable (3) 1,690,000 1,690,000 Total Liabilities $ 1,065,805,460 $ 1,028,660,379 (1) Of the amounts reported, $ 5,191,201 and $ 5,495,426 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively. (2) Of the amounts reported, $ 365,346,908 and $ 367,807,377 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively. (3) The entire mortgages payable balance is associated with a VIE where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively. In certain instances, the Partnership has investment assets in the form of MRBs, taxable MRBs, GILs, taxable GILs and property loans that are variable interests in non-consolidated borrower entity VIEs which are also assets of consolidated debt financing entity VIEs. Accordingly, such investment assets are reported within tables related to both non-consolidated VIEs and consolidated VIEs presented in this Note 3.

Mortgage Revenue Bonds

Mortgage Revenue Bonds	6 Months Ended
	Jun. 30, 2024
Investments In Mortgage Revenue Bonds [Abstract]
Mortgage Revenue Bonds	4. Mortgage Revenue Bonds The Partnership’s MRBs provide construction and/or permanent financing for income-producing multifamily rental, seniors housing and skilled nursing properties. MRBs are either held directly by the Partnership or are held in trusts created in connection with debt financing transactions (Note 13). The MRBs predominantly bear interest at fixed interest rates and require regular principal and interest payments on either a monthly or semi-annual basis. The Partnership had the following investments in MRBs as of June 30, 2024 and December 31, 2023: June 30, 2024 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value The Safford (5) AZ $ 19,366,284 $ 1,672,241 $ - $ 21,038,525 40rty on Colony - Series P (5) CA 5,963,133 498,774 - 6,461,907 CCBA Senior Garden Apartments (5) CA 3,738,947 14,974 - 3,753,921 Courtyard - Series A (3) CA 9,721,946 463,674 - 10,185,620 Glenview Apartments - Series A (2) CA 4,280,530 168,744 - 4,449,274 Harmony Court Bakersfield - Series A (3) CA 3,544,757 139,578 - 3,684,335 Harmony Terrace - Series A (3) CA 6,563,249 315,187 - 6,878,436 Harden Ranch - Series A (1) CA 6,306,564 279,216 - 6,585,780 Las Palmas II - Series A (3) CA 1,607,892 67,293 - 1,675,185 Lutheran Gardens (6), (7) CA 10,352,000 - ( 37,286 ) 10,314,714 Montclair Apartments - Series A (2) CA 2,319,002 106,080 - 2,425,082 Montecito at Williams Ranch Apartments - Series A (5) CA 7,408,742 506,313 - 7,915,055 Montevista - Series A (5) CA 6,582,792 671,125 - 7,253,917 Ocotillo Springs - Series A (5), (7) CA 3,472,440 - ( 166,594 ) 3,305,846 Ocotillo Springs - Series A-1 (5) CA 497,756 76,732 - 574,488 Residency at Empire - Series BB-1 (5) CA 14,114,724 515,319 - 14,630,043 Residency at Empire - Series BB-2 (5) CA 4,000,000 180,012 - 4,180,012 Residency at Empire - Series BB-3 (5) CA 14,000,000 485,236 - 14,485,236 Residency at Empire - Series BB-4 (5) CA 5,500,000 87,202 - 5,587,202 Residency at the Entrepreneur - Series J-1 (5) CA 9,082,069 - - 9,082,069 Residency at the Entrepreneur - Series J-2 (5) CA 7,500,000 - - 7,500,000 Residency at the Entrepreneur - Series J-3 (5) CA 26,080,000 353,343 - 26,433,343 Residency at the Entrepreneur - Series J-4 (5) CA 3,820,000 - - 3,820,000 Residency at the Entrepreneur - Series J-5 (5) CA 1,000,000 - - 1,000,000 Residency at the Mayer - Series A (5) CA 29,558,156 - - 29,558,156 Residency at the Mayer - Series M (5) CA 11,500,000 - - 11,500,000 San Vicente - Series A (3) CA 3,315,388 138,754 - 3,454,142 Santa Fe Apartments - Series A (2) CA 2,809,384 128,512 - 2,937,896 Seasons at Simi Valley - Series A (3) CA 4,055,003 290,903 - 4,345,906 Seasons Lakewood - Series A (3) CA 6,991,287 335,743 - 7,327,030 Seasons San Juan Capistrano - Series A (3) CA 11,771,045 532,184 - 12,303,229 Solano Vista - Series A (5) CA 2,601,920 228,174 - 2,830,094 Summerhill - Series A (3) CA 6,104,014 156,751 - 6,260,765 Sycamore Walk - Series A (3), (8) CA 3,355,897 - ( 90,471 ) 3,265,426 The Village at Madera - Series A (3) CA 2,931,789 131,674 - 3,063,463 Tyler Park Townhomes - Series A (1) CA 5,490,125 48,868 - 5,538,993 Village at Hanford Square - Series H (5) CA 10,400,000 672,773 - 11,072,773 Vineyard Gardens - Series A (5) CA 3,857,697 305,160 - 4,162,857 Westside Village Market - Series A (1) CA 3,587,787 129,900 - 3,717,687 Handsel Morgan Village Apartments (5) GA 2,150,000 210,988 - 2,360,988 MaryAlice Circle Apartments (5) GA 5,900,000 631,693 - 6,531,693 Copper Gate Apartments (1) IN 4,780,000 - - 4,780,000 Renaissance - Series A (2) LA 10,347,829 714,728 - 11,062,557 Live 929 Apartments - Series 2022A (5) MD 58,447,151 3,120,322 - 61,567,473 Woodington Gardens Apartments - Series A-1 (5) MD 31,150,000 3,329,090 - 34,479,090 Meadow Valley (5), (9) MI 29,633,720 - ( 2,056,854 ) 27,576,866 Jackson Manor Apartments (5), (8) MS 4,803,044 - ( 361,176 ) 4,441,868 Village Point (6), (8) NJ 23,000,000 - ( 475,083 ) 22,524,917 Silver Moon - Series A (2) NM 7,440,266 623,237 - 8,063,503 Village at Avalon (4) NM 15,738,023 1,364,391 - 17,102,414 Columbia Gardens (3) SC 12,252,320 499,675 - 12,751,995 Companion at Thornhill Apartments (3) SC 10,562,925 350,758 - 10,913,683 The Ivy Apartments (5) SC 30,563,203 880,309 - 31,443,512 The Palms at Premier Park Apartments (1) SC 17,733,956 182,998 - 17,916,954 The Park at Sondrio - Series 2022A (5) SC 38,100,000 1,346,314 - 39,446,314 The Park at Vietti - Series 2022A (5) SC 26,985,000 1,018,466 - 28,003,466 Village at River's Edge (3) SC 9,522,422 981,576 - 10,503,998 Willow Run (3) SC 12,082,152 492,032 - 12,574,184 Windsor Shores Apartments - Series A (5) SC 21,545,000 771,092 - 22,316,092 Arbors at Hickory Ridge (1) TN 10,326,690 1,341,180 - 11,667,870 Avistar at Copperfield - Series A (5) TX 13,297,878 492,717 - 13,790,595 Avistar at the Crest - Series A (1) TX 8,692,991 576,349 - 9,269,340 Avistar at the Oaks - Series A (1) TX 7,037,156 401,163 - 7,438,319 Avistar at the Parkway - Series A (2) TX 12,187,414 398,703 - 12,586,117 Avistar at Wilcrest - Series A (5) TX 5,039,627 186,730 - 5,226,357 Avistar at Wood Hollow - Series A (5) TX 38,265,770 1,417,834 - 39,683,604 Avistar in 09 - Series A (1) TX 6,076,307 362,062 - 6,438,369 Avistar on the Boulevard - Series A (1) TX 14,809,456 801,134 - 15,610,590 Avistar on the Hills - Series A (1) TX 4,817,793 274,645 - 5,092,438 Bruton Apartments (3), (8) TX 17,137,029 - ( 25,276 ) 17,111,753 Concord at Gulfgate - Series A (3) TX 18,078,705 1,117,426 - 19,196,131 Concord at Little York - Series A (3) TX 12,664,988 815,278 - 13,480,266 Concord at Williamcrest - Series A (3) TX 19,619,423 1,262,953 - 20,882,376 Crossing at 1415 - Series A (3) TX 7,036,653 284,274 - 7,320,927 Decatur Angle (3), (8) TX 21,531,128 - ( 144,173 ) 21,386,955 Esperanza at Palo Alto (3) TX 18,665,231 1,605,193 - 20,270,424 Heights at 515 - Series A (3) TX 6,442,177 334,677 - 6,776,854 Heritage Square - Series A (2) TX 10,113,831 302,992 - 10,416,823 Oaks at Georgetown - Series A (3) TX 11,728,241 397,942 - 12,126,183 Southpark (5) TX 11,167,919 1,132,081 - 12,300,000 15 West Apartments (3) WA 9,328,583 1,106,537 - 10,435,120 Aventine Apartments (5) WA 9,500,000 1,139,689 - 10,639,689 Mortgage revenue bonds held in trust $ 951,454,320 $ 41,969,667 $ ( 3,356,913 ) $ 990,067,074 (1) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB held by Morgan Stanley in a debt financing transaction, Note 13. (5) MRB held by Mizuho in a debt financing transaction, Note 13. (6) MRB held by Barclays Capital Inc. in a debt financing transaction, Note 13. (7) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for at least 12 months. (8) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for less than 12 months. (9) The Partnership has a remaining MRB funding commitment of approximately $ 14.5 million as of June 30, 2024. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining funding commitment outstanding as of June 30, 2024 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for more than 12 months. June 30, 2024 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Provision Center 2014-1 TN $ 365,042 $ - $ - $ 365,042 Avistar at the Crest - Series B TX 714,902 26,684 - 741,586 Avistar at the Oaks - Series B TX 523,907 17,985 - 541,892 Avistar at the Parkway - Series B TX 122,441 14,175 - 136,616 Avistar in 09 - Series B TX 432,176 14,836 - 447,012 Avistar on the Boulevard - Series B TX 424,797 13,006 - 437,803 Runnymede TX 9,315,000 - - 9,315,000 Mortgage revenue bonds $ 11,898,265 $ 86,686 $ - $ 11,984,951 December 31, 2023 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value The Safford (5) AZ $ 7,667,299 $ 2,717,033 $ - $ 10,384,332 40rty on Colony - Series P (5) CA 5,964,008 739,204 - 6,703,212 Courtyard - Series A (3) CA 9,774,107 845,146 - 10,619,253 Glenview Apartments - Series A (2) CA 4,312,025 298,507 - 4,610,532 Harmony Court Bakersfield - Series A (3) CA 3,563,775 275,305 - 3,839,080 Harmony Terrace - Series A (3) CA 6,598,285 573,928 - 7,172,213 Harden Ranch - Series A (1) CA 6,355,567 441,345 - 6,796,912 Las Palmas II - Series A (3) CA 1,616,607 128,930 - 1,745,537 Lutheran Gardens (6), (7) CA 10,352,000 - ( 30,994 ) 10,321,006 Montclair Apartments - Series A (2) CA 2,336,065 170,291 - 2,506,356 Montecito at Williams Ranch Apartments - Series A (5) CA 7,442,435 846,333 - 8,288,768 Montevista - Series A (5) CA 6,607,973 992,675 - 7,600,648 Residency at Empire - Series BB-1 (5) CA 14,117,540 1,004,021 - 15,121,561 Residency at Empire - Series BB-2 (5) CA 4,000,000 320,446 - 4,320,446 Residency at Empire - Series BB-3 (5) CA 5,055,000 575,709 - 5,630,709 Residency at the Entrepreneur - Series J-1 (5) CA 9,085,429 181,504 - 9,266,933 Residency at the Entrepreneur - Series J-2 (5) CA 7,500,000 222,445 - 7,722,445 Residency at the Entrepreneur - Series J-3 (5) CA 12,300,000 697,895 - 12,997,895 Residency at the Mayer - Series A (5) CA 29,560,945 - - 29,560,945 San Vicente - Series A (3) CA 3,333,357 265,848 - 3,599,205 Santa Fe Apartments - Series A (2) CA 2,830,055 206,301 - 3,036,356 Seasons at Simi Valley - Series A (3) CA 4,083,273 443,901 - 4,527,174 Seasons Lakewood - Series A (3) CA 7,028,608 611,358 - 7,639,966 Seasons San Juan Capistrano - Series A (3) CA 11,833,880 992,473 - 12,826,353 Summerhill - Series A (3) CA 6,136,763 381,019 - 6,517,782 Sycamore Walk - Series A (3) CA 3,380,901 226,216 - 3,607,117 The Village at Madera - Series A (3) CA 2,947,519 227,699 - 3,175,218 Tyler Park Townhomes - Series A (1) CA 5,533,307 119,693 - 5,653,000 Village at Hanford Square - Series H (5) CA 10,400,000 1,073,808 - 11,473,808 Vineyard Gardens - Series A (5) CA 3,874,962 461,663 - 4,336,625 Westside Village Market - Series A (1) CA 3,616,007 223,459 - 3,839,466 MaryAlice Circle Apartments (5) GA 5,900,000 880,643 - 6,780,643 Copper Gate Apartments (1), (7) IN 4,780,000 - ( 5 ) 4,779,995 Renaissance - Series A (2) LA 10,429,392 1,221,077 - 11,650,469 Live 929 Apartments - Series 2022A (5) MD 58,333,646 3,275,636 - 61,609,282 Meadow Valley (5), (8) MI 20,863,114 - ( 920,148 ) 19,942,966 Jackson Manor Apartments (5) MS 4,824,474 209,082 - 5,033,556 Village Point (6) NJ 23,000,000 192,788 - 23,192,788 Silver Moon - Series A (2) NM 7,480,455 928,841 - 8,409,296 Village at Avalon (4) NM 15,808,184 1,962,627 - 17,770,811 Columbia Gardens (3) SC 12,351,218 807,633 - 13,158,851 Companion at Thornhill Apartments (3) SC 10,639,506 598,197 - 11,237,703 The Ivy Apartments (5) SC 30,567,832 1,933,208 - 32,501,040 The Palms at Premier Park Apartments (1) SC 17,872,527 427,099 - 18,299,626 The Park at Sondrio - Series 2022A (5) SC 38,100,000 2,682,964 - 40,782,964 The Park at Vietti - Series 2022A (5) SC 26,985,000 1,972,695 - 28,957,695 Village at River's Edge (3) SC 9,566,110 1,000,545 - 10,566,655 Willow Run (3) SC 12,180,025 817,941 - 12,997,966 Windsor Shores Apartments - Series A (5) SC 21,545,000 1,530,085 - 23,075,085 Arbors at Hickory Ridge (1) TN 10,417,646 1,805,985 - 12,223,631 Avistar at Copperfield - Series A (5) TX 13,378,386 983,586 - 14,361,972 Avistar at the Crest - Series A (1) TX 8,762,826 909,437 - 9,672,263 Avistar at the Oaks - Series A (1) TX 7,091,928 666,990 - 7,758,918 Avistar at the Parkway - Series A (2) TX 12,270,653 830,179 - 13,100,832 Avistar at Wilcrest - Series A (5) TX 5,070,137 313,010 - 5,383,147 Avistar at Wood Hollow - Series A (5) TX 38,497,436 2,648,201 - 41,145,637 Avistar in 09 - Series A (1) TX 6,123,600 593,430 - 6,717,030 Avistar on the Boulevard - Series A (1) TX 14,928,425 1,346,449 - 16,274,874 Avistar on the Hills - Series A (1) TX 4,855,291 470,520 - 5,325,811 Bruton Apartments (3), (7) TX 17,220,941 - ( 13,366 ) 17,207,575 Concord at Gulfgate - Series A (3) TX 18,190,721 1,807,038 - 19,997,759 Concord at Little York - Series A (3) TX 12,743,460 1,302,221 - 14,045,681 Concord at Williamcrest - Series A (3) TX 19,740,985 2,017,280 - 21,758,265 Crossing at 1415 - Series A (3) TX 7,082,698 565,843 - 7,648,541 Decatur Angle (3), (7) TX 21,646,255 - ( 16,674 ) 21,629,581 Esperanza at Palo Alto (3) TX 18,751,278 2,480,537 - 21,231,815 Heights at 515 - Series A (3) TX 6,484,332 602,199 - 7,086,531 Heritage Square - Series A (2) TX 10,186,405 606,579 - 10,792,984 Oaks at Georgetown - Series A (3) TX 11,790,848 838,472 - 12,629,320 15 West Apartments (3) WA 9,371,808 1,478,567 - 10,850,375 Mortgage revenue bonds held in trust $ 825,040,234 $ 58,971,739 $ ( 981,187 ) $ 883,030,786 (1) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB held by Morgan Stanley in a debt financing transaction, Note 13. (5) MRB held by Mizuho in a debt financing transaction, Note 13. (6) MRB held by Barclays Capital Inc. in a debt financing transaction, Note 13. (7) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for less than 12 months. (8) The Partnership has a remaining MRB funding commitment of approximately $ 23.2 million as of December 31, 2023. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining funding commitment outstanding as of December 31, 2023 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for more than 12 months. December 31, 2023 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value CCBA Senior Garden Apartments CA $ 3,757,268 $ 158,840 $ - $ 3,916,108 Ocotillo Springs - Series A (1) CA 3,489,096 - ( 59,805 ) 3,429,291 Ocotillo Springs - Series A-1 CA 499,117 95,386 - 594,503 Residency at the Entrepreneur - Series J-5 CA 1,000,000 - - 1,000,000 Solano Vista - Series A CA 2,611,955 338,125 - 2,950,080 Handsel Morgan Village Apartments GA 2,150,000 300,188 - 2,450,188 Brookstone IL 7,229,475 1,071,177 - 8,300,652 Provision Center 2014-1 TN 926,475 - - 926,475 Avistar at the Crest - Series B TX 718,332 49,845 - 768,177 Avistar at the Oaks - Series B TX 526,318 35,066 - 561,384 Avistar at the Parkway - Series B TX 122,701 19,352 - 142,053 Avistar in 09 - Series B TX 434,165 28,926 - 463,091 Avistar on the Boulevard - Series B TX 426,835 27,507 - 454,342 Runnymede (2) TX 9,390,000 - ( 1,121 ) 9,388,879 Southpark TX 11,133,003 1,166,283 - 12,299,286 Mortgage revenue bonds $ 44,414,740 $ 3,290,695 $ ( 60,926 ) $ 47,644,509 (1) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for more than 12 months. (2) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for less than 12 months. The Partnership has accrued interest receivable related to its MRBs of approximately $ 5.1 million and approximately $ 4.7 million as of June 30, 2024 and December 31, 2023, respectively, that is reported as interest receivable, net in the Partnership's condensed consolidated balance sheets. The Partnership has committed to provide funding for certain MRBs on a draw-down basis during construction and/or rehabilitation of the secured properties as of June 30, 2024. See Note 16 for additional information regarding the Partnership’s MRB funding commitments. See Note 20 for a description of the methodology and significant assumptions used in determining the fair value of the MRBs. Unrealized gains or losses on the MRBs are recorded in the Partnership's condensed consolidated statements of comprehensive income to reflect changes in their estimated fair values resulting from market conditions and fluctuations in the present value of the expected cash flows from the MRBs. See Note 10 for information regarding the Partnership’s allowance for credit losses. Activity in the First Six Months of 2024 Acquisitions: The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the six months ended June 30, 2024: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Residency at the Mayer - Series M (1) March 2024 Hollywood, CA 79 4/1/2039 SOFR + 3.60 % (2) $ 11,500,000 Woodington Gardens Apartments - Series A-1 April 2024 Baltimore, MD 197 5/1/2029 7.80 % 31,150,000 Aventine Apartments May 2024 Bellevue, WA 68 6/1/2031 7.68 % 9,500,000 $ 52,150,000 (1) The borrower re-allocated $ 11.5 million of previously provided funding from a taxable MRB to this new MRB during the acquisition and rehabilitation phase of the property. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 5.0 million. (2) The interest rate is subject to an all-in floor of 3.85 %. Upon stabilization of the property, the interest rate will reset to a fixed rate based on the SOFR index plus 3.50 % on or around the stabilization date. Sales: The following MRB was sold at a price that approximated the Partnership’s carrying value plus accrued interest during the six months ended June 30, 2024: Property Name Month Property Location Units Original Interest Rate Principal Brookstone May 2024 Waukegan, IL 168 5/1/2040 5.45 % $ 8,221,234 The Partnership realized a gain on sale of the Brookstone MRB of approximately $ 1.0 million related to collection of an unamortized discount upon sale. Activity in the First Six Months of 2023 Acquisitions: The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the six months ended June 30, 2023: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funded Windsor Shores Apartments - Series A January 2023 Columbia, SC 176 2/1/2030 6.50 % $ 21,545,000 The Ivy Apartments January 2023 Greenville, SC 212 2/1/2030 6.50 % 30,500,000 Residency at the Entrepreneur - Series J-5 (1) February 2023 Los Angeles, CA 200 4/1/2025 SOFR + 3.60 % (2) 1,000,000 Handsel Morgan Village Apartments April 2023 Buford, GA 45 3/1/2041 6.75 % 2,150,000 MaryAlice Circle Apartments April 2023 Buford, GA 98 3/1/2041 6.75 % 5,900,000 Village at Hanford Square - Series H May 2023 Hanford, CA 100 5/1/2030 6.65 % 10,400,000 Village Point May 2023 Monroe Township, NJ 120 (3) 6/1/2030 6.88 % 23,000,000 40rty on Colony - Series P June 2023 La Mesa, CA 40 6/1/2030 7.05 % 5,950,000 $ 100,445,000 (1) The Partnership has committed to provide funding for the Series J-5 MRB totaling $ 5.0 million. See Note 16. (2) The interest rate is subject to an all-in floor of 3.87 %. (3) Village Point is a seniors housing property with 120 beds in 92 units. Redemptions: The following MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest during the six months ended June 30, 2023: Property Name Month Property Location Units Original Interest Rate Principal Greens Property - Series A February 2023 Durham, NC 168 10/1/2047 6.50 % $ 7,579,000 Greens Property - Series B February 2023 Durham, NC 168 10/1/2047 12.00 % 914,040 $ 8,493,040

Governmental Issuer Loans

Governmental Issuer Loans	6 Months Ended
	Jun. 30, 2024
Governmental Issuer Loans [Abstract]
Governmental Issuer Loans	5. Governmental Issuer Loans The Partnership invests in GILs that are issued by state or local governmental authorities to finance the construction of affordable multifamily properties. The Partnership expects and believes the interest earned on the GILs is excludable from gross income for federal income tax purposes. The GILs do not constitute an obligation of any government, agency or authority and no government, agency or authority is liable for them, nor is the taxing power of any state government pledged to the payment of principal or interest on the GILs. Each GIL is secured by a mortgage on all real and personal property of the affordable multifamily property. The GILs share first mortgage lien positions with property loans and/or taxable GILs owned by the Partnership (Notes 6 and 9). Sources of the funds to pay principal and interest on a GIL consist of the net cash flow or the sale or refinancing proceeds from the secured property and limited-to-full payment guaranties provided by affiliates of the borrower. All GILs were held in trust in connection with TOB trust financings as of June 30, 2024 and December 31, 2023 (Note 13). At the closing of each GIL, Freddie Mac, through a servicer, has forward committed to purchase the GIL at maturity at par if the property has reached stabilization and other conditions are met. The Partnership had the following GIL investments as of June 30, 2024 and December 31, 2023: As of June 30, 2024 Property Name Month Property Units Maturity (1) Interest Rate (2) Current Interest Amortized Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 8/1/2024 SOFR + 3.07 % 8.41 % $ 34,620,000 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 8.40 % 60,000,000 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 8.63 % 25,000,000 Willow Place Apartments Supplemental November 2023 McDonough, GA n/a 10/1/2024 SOFR + 3.45 % 8.78 % 1,500,000 Magnolia Heights (3) June 2022 Covington, GA 200 10/1/2024 SOFR + 3.85 % 9.18 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 27,846,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 12,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 20,550,000 Sandy Creek Apartments (3) August 2023 Bryan, TX 140 9/1/2026 7.83 % (5) 7.83 % 12,100,000 1,539 $ 214,557,300 (1) The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0.25 % to 0.50 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. (5) The interest rate will convert to a variable rate of Term SOFR + 2.80 % on February 1, 2025. As of December 31, 2023 Property Name Month Property Units Maturity (1) Interest (2) Current Interest Amortized Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 8.46 % $ 34,620,000 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2024 SIFMA + 3.75 % 7.62 % 23,390,000 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 8.38 % 60,000,000 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 8.61 % 25,000,000 Willow Place Apartments Supplemental November 2023 McDonough, GA n/a 10/1/2024 SOFR + 3.45 % 8.76 % 1,500,000 Magnolia Heights (3) June 2022 Covington, GA 200 7/1/2024 SOFR + 3.85 % 9.16 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 19,846,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 9,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 16,550,000 Sandy Creek Apartments (3) August 2023 Bryan, TX 140 9/1/2026 7.83 % (5) 7.83 % 12,100,000 1,627 $ 222,947,300 (1) The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. (5) The interest rate will convert to a variable rate of Term SOFR + 2.80 % on February 1, 2025. The Partnership has accrued interest receivable related to its GILs of approximately $ 1.4 million and approximately $ 1.5 million as of June 30, 2024 and December 31, 2023, respectively, that is reported as interest receivable, net in the Partnership’s condensed consolidated balance sheets. Two entities that are affiliates of certain GIL borrowers have provided limited-to-full payment guaranties for GILs and property loans (Note 6) with total outstanding principal of $ 133.2 million and $ 6.8 million , respectively, as of June 30, 2024. The guaranties relate to the Partnership’s investments in Legacy Commons at Signal Hills, Osprey Village, Willow Place Apartments, and Sandy Creek Apartments. The Partnership has remaining commitments to provide additional funding of certain GILs on a draw-down basis during construction and/or rehabilitation of the secured properties as of June 30, 2024. See Note 16 for further information regarding the Partnership’s remaining GIL funding commitments. See Note 10 for information regarding the Partnership’s allowance for credit losses. Activity in the First Six Months of 2024 During the six months ended June 30, 2024, the following GIL was purchased by Freddie Mac through a servicer and all principal and accrued interest amounts due were paid in full: Property Name Month Principal Proceeds Hope on Avalon January 2024 $ 23,390,000 In February 2024, the Partnership recognized a fee of approximately $ 87,000 in other income in connection with an extension of the maturity date of the Legacy Commons at Signal Hills GIL to August 1, 2024. In June 2024, the Partnership recognized a fee of approximately $ 51,000 in other income in connection with an extension of the maturity date of the Magnolia Heights GIL to October 1, 2024. Activity in the First Six Months of 2023 In June 2023, the Oasis at Twin Lakes GIL was purchased by Freddie Mac though a servicer. The partnership received proceeds of approximately $ 34.1 million representing 100 % of the outstanding principal and accrued interest from the sale of the GIL to Freddie Mac. In June 2023, the Partnership recognized a fee of approximately $ 100,000 in other income in connection with an extension of the maturity date of the Scharbauer Flats Apartments GIL to January 1, 2024

Property Loans

Property Loans	6 Months Ended
	Jun. 30, 2024
Property Loans Net Of Loan Loss Allowance [Abstract]
Property Loans	6. Property Loans The following tables summarize the Partnership’s property loans, net of asset-specific allowances for credit losses, as of June 30, 2024 and December 31, 2023: June 30, 2024 Outstanding Asset-Specific Allowance for Credit Losses Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Magnolia Heights $ 8,118,546 $ - $ 8,118,546 10/1/2024 SOFR + 3.85 % Sandy Creek Apartments 6,787,992 - 6,787,992 9/1/2026 8.63 % (2) Subtotal 14,906,538 - 14,906,538 Mezzanine Financing SoLa Impact Opportunity Zone Fund (3) $ 33,545,000 $ - $ 33,545,000 12/30/2024 7.875 % The Centurion Foundation 7,250,000 - 7,250,000 6/15/2039 10.50 % Subtotal 40,795,000 - 40,795,000 Other The 50/50 MF Property $ 7,109,611 $ - $ 7,109,611 3/11/2048 9.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 7,604,611 ( 495,000 ) 7,109,611 Total $ 63,306,149 $ ( 495,000 ) $ 62,811,149 (1) The property loans are held in trust in connection with TOB trust financings (Note 13). 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. (2) The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. (3) The property loan is held in trust in connection with a TOB trust financing (Note 13). December 31, 2023 Outstanding Asset-Specific Allowance for Credit Losses Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Legacy Commons at Signal Hills $ 32,233,972 $ - $ 32,233,972 2/1/2024 SOFR + 3.07 % Magnolia Heights 8,118,546 - 8,118,546 7/1/2024 SOFR + 3.85 % Osprey Village 14,998,296 - 14,998,296 8/1/2024 SOFR + 3.07 % Osprey Village Supplemental 4,600,000 - 4,600,000 8/1/2024 SOFR + 3.22 % Sandy Creek Apartments 2,419,876 - 2,419,876 9/1/2026 8.63 % (2) Willow Place Apartments 18,875,606 - 18,875,606 10/1/2024 SOFR + 3.30 % Willow Place Apartments Supplemental 339,000 - 339,000 10/1/2024 SOFR + 3.45 % Subtotal 81,585,296 - 81,585,296 Mezzanine Financing (3) SoLa Impact Opportunity Zone Fund $ 34,045,000 $ - $ 34,045,000 12/30/2024 7.875 % Other The 50/50 MF Property $ 5,977,314 $ - $ 5,977,314 3/11/2048 9.00 % Avistar (February 2013 portfolio) 201,972 - 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 6,925,908 ( 495,000 ) 6,430,908 Total $ 122,556,204 $ ( 495,000 ) $ 122,061,204 (1) The property loans are held in trust in connection with TOB trust financings (Note 13) with the exception of the Osprey Village Supplemental and Willow Place Apartments Supplemental property loans. 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 %. (2) The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. (3) The property loan is held in trust in connection with a TOB trust financing (Note 13). The Partnership has accrued interest receivable related to its property loans of approximately $ 344,000 and approximately $ 1.7 million as of June 30, 2024 and December 31, 2023, respectively, that is reported as interest receivable, net in the Partnership’s condensed consolidated balance sheets. The Partnership has remaining commitments to provide additional funding of certain property loans on a draw-down basis during construction of the secured properties as of June 30, 2024. See Note 16 for further information regarding the Partnership’s remaining property loan funding commitments. See Note 10 for information regarding the Partnership’s allowance for credit losses related to its property loans. Activity in the First Six Months of 2024 In June 2024, the Partnership executed a property loan to The Centurion Foundation, Inc. in the amount of $ 7.3 million to facilitate the purchase of a portfolio of nine essential healthcare support buildings located in eastern Pennsylvania that were then leased to an investment grade rated non-profit healthcare system. The Partnership’s loan is subordinate to the senior debt of the borrower which is secured by a first priority security interest in master lease payments guaranteed by the healthcare system. The following property loan principal payments were received during the six months ended June 30, 2024: Property Name Month Principal Proceeds Legacy Commons at Signal Hills February 2024 $ 32,233,972 Osprey Village February 2024 14,998,296 Osprey Village Supplemental February 2024 4,600,000 Willow Place Apartments February 2024 18,875,606 Willow Place Apartments Supplemental February 2024 1,115,320 SoLa Impact Opportunity Zone Fund March 2024 500,000 Avistar (February 2013 portfolio) May 2024 201,972 Avistar (June 2013 portfolio) May 2024 251,622 $ 72,776,788 In June 2024, the Partnership recognized a fee of approximately $ 20,000 in other income in connection with an extension of the maturity date of the Magnolia Heights property loan to October 1, 2024. Activity in the First Six Months of 2023 The following property loan principal payments were received during the six months ended June 30, 2023: Property Name Month Principal Greens Property February 2023 $ 850,000 Scharbauer Flats February 2023 10,773,236 Centennial Crossings March 2023 6,692,344 SoLa Impact Opportunity Zone Fund May 2023 3,790,000 Magnolia Heights June 2023 2,181,454 Oasis at Twin Lakes June 2023 24,018,657 $ 48,305,691 Concurrent with the redemption of the Greens Property loan, the Partnership received cash as payment for accrued interest of approximately $ 1.6 million. In June 2023, the Partnership recognized a fee of approximately $ 33,000 in other income in connection with an extension of the maturity date of the Scharbauer Flats Apartments property loan to January 1, 2024

Investments in Unconsolidated E

Investments in Unconsolidated Entities	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	7. Investments in Unconsolidated Entities The Partnership has non-controlling investments in unconsolidated entities. The Partnership applies the equity method of accounting by initially recording these investments at cost, subsequently adjusted for accrued preferred returns, the Partnership’s share of earnings (losses) of the unconsolidated entities, cash contributions, and distributions. The carrying value of the equity investments represents the Partnership’s maximum exposure to loss. The Partnership is entitled to a preferred return on invested capital in each unconsolidated entity. The Partnership’s preferred return is reported as “Investment income” on the Partnership’s condensed consolidated statements of operations. An affiliate of the Vantage unconsolidated entities guarantees a preferred return on the Partnership’s invested capital through a date approximately five years after commencement of construction in connection with the Vantage investments. The following table provides the details of the investments in unconsolidated entities as of June 30, 2024 and December 31, 2023: Property Name Location Units Construction Commencement Date Construction Completion Date Carrying Value as of June 30, 2024 Carrying Value as of December 31, 2023 Current Investments Vantage at Tomball Tomball, TX 288 August 2020 April 2022 $ 14,199,870 13,235,090 Vantage at Hutto Hutto, TX 288 December 2021 December 2023 14,573,715 13,908,660 Vantage at Loveland Loveland, CO 288 April 2021 N/A 23,954,586 20,464,906 Vantage at Helotes Helotes, TX 288 May 2021 November 2022 15,090,681 15,090,681 Vantage at Fair Oaks Boerne, TX 288 September 2021 May 2023 13,535,176 12,996,316 Vantage at McKinney Falls McKinney Falls, TX 288 December 2021 N/A 15,024,657 13,131,272 Freestone Greeley Greeley, CO 296 N/A N/A 6,143,765 5,346,007 Freestone Cresta Bella San Antonio, TX 296 February 2023 N/A 18,003,283 17,325,494 Valage Senior Living Carson Valley Minden, NV 102 (1) February 2023 N/A 8,839,675 8,608,322 The Jessam at Hays Farm Huntsville, AL 318 July 2023 N/A 17,090,224 7,518,717 Freestone Greenville Greenville, TX 300 April 2024 N/A 7,680,571 5,366,551 Freestone Ladera Ladera, TX 288 N/A N/A 3,804,461 3,661,230 $ 157,940,664 $ 136,653,246 (1) Valage Senior Living Carson Valley is a seniors housing property with 102 beds in 88 units. The Partnership has remaining commitments to provide additional equity funding for certain unconsolidated entities as of June 30, 2024. See Note 16 for further details regarding the Partnership’s remaining funding commitments. Activity in the First Six Months of 2024 Sales Activity: The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the six months ended June 30, 2024: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain (loss) Vantage at Coventry Omaha, NE 294 (1) $ 50,000 $ - $ 50,000 Vantage at Westover Hills San Antonio, TX 288 (2) 6,986 - 6,986 $ 56,986 $ - $ 56,986 (1) In January 2024, the Partnership received sales proceeds of approximately $ 50,000 associated with final settlements of the Vantage at Coventry sale in January 2023. The Partnership recognized the amount in “Gain on sale of investment in an unconsolidated entity” on the Partnership’s condensed consolidated statement of operations. (2) In May 2024, the Partnership received sales proceeds of approximately $ 7,000 associated with final settlements of the Vantage at Westover Hills sale in May 2022. The Partnership recognized the amount in “Gain on sale of investment in an unconsolidated entity” on the Partnership’s condensed consolidated statement of operations. During the first six months of 2024, the Partnership advanced funds beyond its original commitments to five Vantage unconsolidated entities totaling $ 5.8 million to cover additional construction and interest costs. Activity in the First Six Months of 2023 Sales Activity: The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the six months ended June 30, 2023: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Stone Creek Omaha, NE 294 January 2023 $ 14,689,244 $ 108,295 $ 9,114,980 Vantage at Coventry Omaha, NE 294 January 2023 13,220,218 135,501 6,258,133 Vantage at Murfreesboro Murfreesboro, TN 288 (1) ( 6,184 ) - ( 6,184 ) Vantage at O'Connor San Antonio, TX 288 (2) ( 11,744 ) - ( 11,744 ) Vantage at Conroe Conroe, TX 288 June 2023 19,828,060 2,065,608 7,337,828 $ 47,719,594 $ 2,309,404 $ 22,693,013 (1) In February 2023, the Partnership returned sales proceeds of approximately $ 6,200 associated with final settlements of the Vantage at Murfreesboro sale in March 2022. The Partnership recognized the amount in "Gain on sale of investment in an unconsolidated entity" on the Partnership’s condensed consolidated statements of operations. (2) In May 2023, the Partnership returned sales proceeds of approximately $ 12,000 associated with final settlements of the Vantage at O'Connor sale in July 2022. The Partnership recognized the amount in "Gain on sale of investment in an unconsolidated entity" on the Partnership's condensed consolidated statements of operations. New Equity Commitments: In February 2023, the Partnership executed an $ 8.2 million equity commitment to fund the construction of Valage Senior Living Carson Valley. Summarized Unconsolidated Entity Level Financial Data The following table provides summary combined financial information for the properties underlying the Partnership’s investments in unconsolidated entities for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Property revenues $ 4,411,360 $ 3,272,517 $ 8,196,677 $ 7,021,960 Gain on sale of property $ - $ 17,995,170 $ - $ 56,099,503 Net income (loss) $ ( 3,025,880 ) $ 16,950,286 $ ( 4,150,053 ) $ 54,693,224

Real Estate Assets

Real Estate Assets	6 Months Ended
	Jun. 30, 2024
Real Estate [Abstract]
Real Estate Assets	8. Real Estate Assets The following tables summarize information regarding the Partnership’s real estate assets as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Property Name Location Number Land and Land Buildings and Carrying Value Land and Land Buildings and Carrying Value Vantage at San Marcos San Marcos, TX (1) 2,660,615 946,043 3,606,658 2,660,615 946,043 3,606,658 Land held for development (2) 1,109,482 - 1,109,482 1,109,482 - 1,109,482 $ 4,716,140 $ 4,716,140 Less accumulated depreciation - - Real estate assets, net $ 4,716,140 $ 4,716,140 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 3 for further information. (2) Land held for development consists of land and development costs for a parcel of land in Richland County, SC. In June 2024, the Partnership received its final sales proceeds associated with the sale of the Suites on Paseo MF Property. The Partnership recognized a gain on sale of approximately $ 64,000 . In January 2023, the Partnership sold the land held for development in Omaha, NE and received proceeds of $ 442,000 which approximated the Partnership ’ s carrying value. In December 2023, the Partnership sold the Suites on Paseo MF Property. Net income, exclusive of the gains on sale, related to the Suites on Paseo MF Property for the three and six months ended June 30, 2024, and 2023 was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net income $ - $ 98,276 $ - $ 327,188

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2024
Other Assets [Abstract]
Other Assets	9. Other Assets The following table summarizes the Partnership ’ s other assets as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Deferred financing costs, net $ 1,044,672 $ 850,726 Derivative instruments at fair value (Note 15) 9,679,247 5,254,663 Taxable mortgage revenue bonds, at fair value 15,926,321 21,460,288 Taxable governmental issuer loans: Taxable governmental issuer loans 3,000,000 13,573,000 Allowance for credit losses (Note 10) ( 36,000 ) ( 77,000 ) Taxable governmental issuer loans, net 2,964,000 13,496,000 Bond purchase commitment, at fair value (Note 16) 46,238 197,788 Other assets 1,377,476 1,935,005 Total other assets $ 31,037,954 $ 43,194,470 The Partnership has remaining commitments to provide additional funding of the taxable MRBs and taxable GILs during construction and/or rehabilitation of the secured properties as of June 30, 2024. See Note 16 for further information regarding the Partnership’s remaining taxable GIL and taxable MRB funding commitments. See Note 10 for information regarding the Partnership’s allowance for credit losses related to its taxable GILs. See Note 20 for a description of the methodology and significant assumptions for determining the fair value of derivative instruments, taxable MRBs and bond purchase commitments. Unrealized gains or losses on derivative instruments are reported as “Net result from derivative transactions” in the Partnership ’ s condensed consolidated statements of operations. Unrealized gains and losses on taxable MRBs and bond purchase commitments are recorded in the Partnership ’ s condensed consolidated statements of comprehensive income to reflect changes in their estimated fair values resulting from market conditions and fluctuations in the present value of the expected cash flows from the assets. As of June 30, 2024, 10 taxable MRBs and three taxable GILs with a reported value totaling $ 19.5 million were held in trust in connection with TOB trust financings (Note 13). Activity in the First Six Months of 2024 The following table includes details of the taxable MRB acquired during the six months ended June 30, 2024: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Woodington Gardens Apartments - Series A-2 April 2024 Baltimore, MD 197 5/1/2029 7.80 % $ 2,577,000 The following taxable MRB and taxable GIL principal payments were received during the six months ended June 30, 2024: Property Name Month Property Location Units Original Interest Rate Principal Taxable MRBs Residency at the Mayer Series A-T (1) March 2024 Hollywood, CA 79 10/1/2024 SOFR + 3.70 % (2) $ 11,500,000 Taxable GILs Hope on Avalon January 2024 Los Angeles, CA 88 2/1/2024 SOFR + 3.55 % $ 10,573,000 Total $ 22,073,000 (1) The borrower re-allocated $ 11.5 million of previously provided funding from a taxable MRB to a new MRB during the acquisition and rehabilitation phase of the property. (2) The interest rate is subject to an all-in floor of 3.95 %. Activity in the First Six Months of 2023 The following table includes details of the taxable MRBs acquired during the six months ended June 30, 2023: Property Name Date Committed Maturity Date Initial Principal Funding Total Commitment Windsor Shores Apartments - Series B January 2023 2/1/2030 $ 805,000 $ 805,000 Village at Hanford Square - Series H-T May 2023 5/1/2030 1,000,000 10,400,000 40rty on Colony - Series P-T June 2023 6/1/2030 1,100,000 5,950,000 Subtotal $ 17,155,000

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
Allowance for Credit Losses	10. Allowance for Credit Losses Held-to-Maturity Debt Securities, Held-for-Investment Loans and Related Unfunded Commitments The Partnership considers key credit quality indicators when estimating expected credit losses for assets recorded at amortized cost. Such assets primarily finance the construction or rehabilitation of affordable multifamily properties. The GILs are primarily repaid through a conversion to permanent financing pursuant to a forward commitment from Freddie Mac dependent on completion of construction and various other conditions that each property must meet. The property loans related to GILs are primarily to be repaid from future equity contributions by investors and other forward financing commitments provided by various parties. If Freddie Mac is not required to purchase the GIL and payment of the property loans from available sources is not made, the GIL and associated property loan will have defaulted, and the Partnership has the right to foreclose on the underlying property, the associated LIHTCs, and enforce the guaranty provisions against affiliates of the individual property borrower. Accordingly, the Partnership’s key credit quality indicators include, but are not limited to, construction status of the property, financial strength of borrowers and guarantors, adequacy of capitalized interest reserves, lease up and occupancy of the property, the status of other conversion conditions, and operating results of the underlying property. The property loans secured by other multifamily properties are repaid through property operations or future sales proceeds. The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and six months ended June 30, 2024: For the Three Months Ended June 30, 2024 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period $ 1,166,000 $ 41,000 $ 1,628,000 $ 456,000 $ 3,291,000 Current provision for credit losses ( 55,000 ) ( 5,000 ) 320,000 ( 71,000 ) 189,000 Balance, end of period $ 1,111,000 $ 36,000 $ 1,948,000 $ 385,000 $ 3,480,000 For the Six Months Ended June 30, 2024 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period $ 1,294,000 $ 77,000 2,048,000 $ 678,000 $ 4,097,000 Current provision for credit losses ( 183,000 ) ( 41,000 ) ( 100,000 ) ( 293,000 ) ( 617,000 ) Balance, end of period $ 1,111,000 $ 36,000 $ 1,948,000 $ 385,000 $ 3,480,000 The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and six months ended June 30, 2023: For the Three Months ended June 30, 2023 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period 2,080,000 89,000 $ 2,450,000 1,280,000 5,899,000 Current provision for credit losses ( 243,000 ) 6,000 ( 215,000 ) ( 322,000 ) ( 774,000 ) Balance, end of period $ 1,837,000 $ 95,000 $ 2,235,000 $ 958,000 $ 5,125,000 For the Six Months Ended June 30, 2023 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period $ - $ - $ 495,000 $ - $ 495,000 Cumulative-effect adjustment upon adoption 2,145,000 79,000 2,108,000 1,617,000 5,949,000 Current provision for credit losses ( 308,000 ) 16,000 ( 368,000 ) ( 659,000 ) ( 1,319,000 ) Balance, end of period $ 1,837,000 $ 95,000 $ 2,235,000 $ 958,000 $ 5,125,000 At adoption, on January 1, 2023, the Partnership recorded an allowance for credit losses of approximately $ 5.9 million as a reduction to Partners’ Capital, or approximately 0.85 % of the Partnerships carrying value of GILs, taxable GILs and property loans and total unfunded commitments. This amount does not include the Live 929 Apartments property loan that had a previous asset-specific allowance of $ 495,000 . The Partnership recorded a provision for credit losses of approximately $ 189,000 and a recovery of provision for credit losses of approximately $ 774,000 for the three months ended June 30, 2024 and 2023, respectively. The increase for the three months ended June 30, 2024 is primarily due to an increase in property loan principal balances. The decrease for the three months ended June 30, 2023 is primarily due to a decrease in the weighted average life of the asset portfolio and updates of market data used as quantitative assumptions in the Partnership’s model to estimate the allowance for credit losses. The Partnership recorded a recovery of provision for credit losses of approximately $ 617,000 and $ 1.3 million for the six months ended June 30, 2024 and 2023, respectively. The decreases for the six months ended June 30, 2024 and 2023 are primarily due to GIL and property loan redemptions, a decrease in the weighted average life of the remaining investment portfolio, and updates of market data used as quantitative assumptions in the Partnership’s model to estimate the allowance for credit losses. Risk Ratings The Partnership evaluates all GILs, taxable GILs and property loans on a quarterly basis and assigns a risk rating based upon management’s assessment of the borrower’s ability to pay debt service and the likelihood of repayment through the GIL’s conversion to Freddie Mac financing and the property loan’s payment from future equity contribution commitments. The assessment is subjective and based on multiple factors, including but not limited to, construction status of the property, financial strength of borrowers and guarantors, adequacy of capitalized interest reserves, lease up and occupancy of the property, the status of other conversion conditions, and operating results of the underlying property. The credit risk analysis and rating assignment is performed quarterly in conjunction with the Partnership’s assessment of its allowance for credit losses. The Partnership uses the following definitions for its risk ratings: • Performing – The underlying property currently meets or exceeds management’s performance expectations and metrics. There are currently no material indicators that current debt service or repayment of the GILs and property loans is at risk. • Watch – The underlying property associated with the GILs and property loans currently has certain performance or other risk factors that require specific attention from management. The Partnership could experience loss if these factors are not resolved in a timely or satisfactory manner. The Partnership currently estimates that such factors will be adequately resolved and that current debt service and final repayment of the GILs and property loans is not at material risk. • Nonperforming – The underlying property associated with the GILs and property loans is not current on debt service payments and/or has material performance or other risk factors. The Partnership currently believes that full collection of debt service and final repayment is questionable and/or improbable. The following tables summarize the Partnership’s carrying value by acquisition year, grouped by risk rating as of June 30, 2024 and December 31, 2023: June 30, 2024 2024 2023 2022 2021 2020 Prior Total Governmental Issuer Loans Performing $ - $ 13,600,000 $ 81,337,300 $ 119,620,000 $ - $ - $ 214,557,300 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - 13,600,000 81,337,300 119,620,000 - - 214,557,300 Taxable Governmental Issuer Loans Performing $ - $ - $ 3,000,000 $ - $ - $ - $ 3,000,000 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - - 3,000,000 - - - 3,000,000 Property Loans Performing $ 7,250,000 $ 6,787,992 $ 48,773,157 $ - $ - $ - $ 62,811,149 Watch - - - - - - - Nonperforming - - - - - 495,000 495,000 Subtotal 7,250,000 6,787,992 48,773,157 - - 495,000 63,306,149 Unfunded Commitments Performing $ - $ 1,042,008 $ 89,700,000 $ - $ - $ - $ 90,742,008 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - 1,042,008 89,700,000 - - - 90,742,008 Total $ 7,250,000 $ 21,430,000 $ 222,810,457 $ 119,620,000 $ - $ 495,000 $ 371,605,457 December 31, 2023 2023 2022 2021 2020 2019 Prior Total Governmental Issuer Loans Performing $ 13,600,000 $ 66,337,300 $ 143,010,000 $ - $ - $ - $ 222,947,300 Watch - - - - - - - Nonperforming - - - - - - - Subtotal 13,600,000 66,337,300 143,010,000 - - - 222,947,300 Taxable Governmental Issuer Loans Performing $ - $ 3,000,000 $ 10,573,000 $ - $ - $ - $ 13,573,000 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - 3,000,000 10,573,000 - - - 13,573,000 Property Loans Performing $ 7,358,876 $ 48,140,860 $ 66,107,874 $ - - $ 453,594 $ 122,061,204 Watch - - - - - - - Nonperforming - - - - $ 495,000 - 495,000 Subtotal 7,358,876 48,140,860 66,107,874 - 495,000 453,594 122,556,204 Unfunded Commitments Performing $ 6,909,378 $ 104,700,000 $ 12,977,426 $ - $ - $ - $ 124,586,804 Watch - - - - - - - Nonperforming - - - - - - - Subtotal 6,909,378 104,700,000 12,977,426 - - - 124,586,804 Total $ 27,868,254 $ 222,178,160 $ 232,668,300 $ - $ 495,000 $ 453,594 $ 483,663,308 The Partnership evaluates its outstanding principal and interest receivable balances associated with its GILs and property loans for collectability. If collection of these balances is not probable, the loan is placed on non-accrual status and either an asset-specific allowance for credit loss will be recognized or the outstanding balance will be written off. There are no GILs, taxable GILs, or property loans that are currently past due on contractual debt service payments and the Partnership considered all GILs, taxable GILs and property loans to be performing as of June 30, 2024, except as noted below. The Partnership currently has two property loans on nonaccrual status. During the three and six months ended June 30, 2024 and 2023, the interest to be earned on the Live 929 Apartments property loan was in nonaccrual status. The discounted cash flow method used by management to establish the net realizable value of the property loan determined the collection of the interest accrued was not probable and the loan is considered to be nonperforming. The Live 929 Apartments property loan has outstanding principal of approximately $ 495,000 as of June 30, 2024 and December 31, 2023, which was fully reserved with an asset-specific allowance. In December 2022, the Partnership received a property loan in exchange for the sale of its 100 % interest in The 50/50 MF Property in the amount of $ 4.8 million. The property loan is unsecured, will be repaid from net cash flows of the property, and is subordinate to the mortgage debt of the property which was assumed by the buyer. The property loan is in non-accrual status as of June 30, 2024 because payments under the loan are not required immediately and are expected to be paid from future net cash flows of the property. As such, the loan is considered to be performing. The property loan associated with the 50/50 MF Property had outstanding principal of approximately $ 7.1 million and $ 6.0 million as of June 30, 2024 and December 31, 2023, respectively. Available-for-Sale Debt Securities The Partnership records impairments for MRBs and taxable MRBs through allowance for credit losses for the portion of the difference between the estimated fair value and amortized cost that is related to expected credit losses. The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Balance, beginning of period $ 9,892,924 $ 9,961,924 $ 9,910,079 $ 9,978,891 Current provision for credit loss (1) ( 169,308 ) - ( 169,308 ) - Write-offs (1) ( 5,542,921 ) - ( 5,542,921 ) - Recovery of prior credit loss (2) ( 17,345 ) ( 17,345 ) ( 34,500 ) ( 34,312 ) Balance, end of period (3) $ 4,163,350 $ 9,944,579 $ 4,163,350 $ 9,944,579 (1) In connection with the final settlement of the bankruptcy estate of the Provision Center 2014-1 MRB in July 2024, the Partnership recovered approximately $ 169,000 of its previously recognized allowance for credit loss and the remainder of the allowance associated with the MRB was written off. (2) The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. As the recovery was identified prior to the effective date of the CECL standard, the Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. (3) The allowance for credit losses as of June 30, 2024 was related to the Live 929 Apartments – 2022A MRB. The allowance for credit losses as of June 30, 2023 was related to the Provision Center 2014-1 MRB and the Live 929 Apartments – 2022A MRB

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	11. Accounts Payable, Accrued Expenses and Other Liabilities The following table summarizes the Partnership’s accounts payable, accrued expenses and other liabilities as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Accounts payable $ 1,053,755 $ 1,518,267 Accrued expenses 3,757,255 4,104,945 Accrued interest expense 7,700,825 7,935,327 Deferred gain on sale of MF Property 6,596,622 6,596,622 Reserve for credit losses on unfunded commitments (Note 10) 385,000 678,000 Derivative instruments at fair value (Note 15) 418,075 705,694 Other liabilities 1,303,703 1,419,233 Total accounts payable, accrued expenses and other liabilities $ 21,215,235 $ 22,958,088

Secured Lines of Credit

Secured Lines of Credit	6 Months Ended
	Jun. 30, 2024
Secured Line Of Credit Facility [Member]
Line of Credit Facility [Line Items]
Secured Lines of Credit	12. Secured Lines of Credit The following tables summarize the Partnership ’s LOCs as of June 30, 2024 and December 31, 2023: Secured Lines of Credit Outstanding as of June 30, 2024 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 26,500,000 $ 50,000,000 June 2025 (1) Variable (2) Monthly 8.83 % Bankers Trust Acquisition LOC 14,750,000 50,000,000 June 2025 (3) Variable (4) Monthly 7.83 % $ 41,250,000 $ 100,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to SOFR + 3.50 %, subject to an all-in floor of 3.75 %. (3) The Partnership has a one-year extension option subject to certain conditions and payment of a $ 25,000 extension fee. (4) The variable rate is equal to 2.50 % plus a variable component based on the Term SOFR. Secured Lines of Credit Outstanding as of December 31, 2023 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 16,500,000 $ 40,000,000 June 2025 (1) Variable (2) Monthly 8.85 % Bankers Trust Acquisition LOC 16,900,000 50,000,000 June 2024 (3) Variable (4) Monthly 7.85 % $ 33,400,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to SOFR + 3.50 %, subject to an all-in floor of 3.75 %. (3) The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee for each extension. (4) The variable rate is equal to 2.50 % plus a variable component based on the Term SOFR. General LOC The Partnership has entered into a Secured Credit Agreement with a commitment of up to $ 50.0 million for the General LOC. The aggregate available commitment cannot exceed a borrowing base calculation, that is equal to 35 % multiplied by the aggregate value of a pool of eligible encumbered assets. Eligible encumbered assets consist of 100 % of the Partnership’s capital contributions to equity investments, senior housing investments, and other real estate investments, subject to certain restrictions. The proceeds of the General LOC will be used by the Partnership to purchase additional investments and to meet general working capital and liquidity requirements. The Partnership may borrow, prepay and reborrow amounts at any time through the maturity date, subject to the limitations of the borrowing base. As of June 30, 2024, the borrowing base was approximately $ 47.5 million . The General LOC is currently secured by first priority security interests in the Partnership’s investments in unconsolidated entities. In addition, an affiliate of the Partnership, Greystone Select, has provided a deficiency guaranty of the Partnership’s obligations under the Secured Credit Agreement. Greystone Select is subject to certain covenants and was in compliance with such covenants as of June 30, 2024. No fees were paid to Greystone Select related to the deficiency guaranty agreement. The Partnership is subject to various affirmative and negative covenants under the Secured Credit Agreement that, among others, require the Partnership to maintain a minimum liquidity of not less than $ 6.3 million and maintain a minimum consolidated tangible net worth of $ 200.0 million. The Partnership may increase the maximum commitment from $ 50.0 million to $ 60.0 million in total, subject to the identification of lenders to provide the additional commitment, the payment of certain fees, and other conditions. The minimum liquidity covenant will increase from the current $ 6.3 million requirement to up to $ 7.5 million upon certain increases in the maximum commitment amount. The Partnership was in compliance with all covenants as of June 30, 2024. Acquisition LOC The Acquisition LOC has a commitment of up to $ 50.0 million that may be used to fund purchases of multifamily real estate, tax-exempt or taxable MRBs, and tax-exempt or taxable loans issued to finance the acquisition, rehabilitation, or construction of affordable housing or which are otherwise secured by real estate, mortgage-backed securities, or master lease agreements guaranteed by investment grade tenants (collectively, the “financed assets”). The financed assets acquired with the proceeds of the Acquisition LOC will be held in a custody account and the outstanding balances of the Acquisition LOC will be secured by a first priority interest in the financed assets and will be maintained in the custody account until released by Bankers Trust Company. Advances on the Acquisition LOC are due on the 270 th day following the advance date but may be extended for up to three additional 90-day periods , but in no event later than the maturity date by providing Bankers Trust Company with a written request for such extension together with a principal payment of 5 % of the principal amount of the original acquisition advance for the first such extension, 10 % for the second such extension, and 20 % for the third such extension. Advances made for tax-exempt or taxable loans secured by master lease agreements guaranteed by investment grade tenants are due on the 45th day following such advance. The Partnership is subject to various affirmative and negative covenants related to the Acquisition LOC, with the principal covenant being that the Partnership’s Leverage Ratio (as defined by the Partnership) will not exceed a specific percentage. The Partnership was in compliance with all covenants as of June 30, 2024.

Debt Financing

Debt Financing	6 Months Ended
	Jun. 30, 2024
Debt Financing [Abstract]
Debt Financing	13. Debt Financing The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of June 30, 2024 and December 31, 2023: Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 65,947,462 $ 4,999 2024 Variable Yes 3.91 % 1.35 % 5.26 % M33 TEBS 28,518,298 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS 208,646,796 5,000 2034 Fixed Yes N/A N/A 4.39 % Subtotal/Weighed Average Period End Rate 303,112,556 4.47 % TEBS Residual Financing $ 60,282,673 $ 18,000 2034 Fixed Yes N/A N/A 7.16 % TOB Trust Securitizations Mizuho Capital Markets: Southpark MRB 9,836,063 (4) 2024 Variable Yes 4.20 % 1.44 % 5.64 % SoLa Impact Opportunity Zone Fund 23,433,061 (4) 2024 Variable No 5.59 % 1.78 % 7.37 % Montevista - Series A 5,596,181 (4) 2025 Variable Yes 4.20 % 1.28 % 5.48 % The Park at Sondrio - Series 2022A 30,418,077 (4) 2025 Variable Yes 4.20 % 1.43 % 5.63 % The Park at Vietti - Series 2022A 21,539,334 (4) 2025 Variable Yes 4.20 % 1.43 % 5.63 % Residency at the Entrepreneur MRBs 34,060,000 (4) 2025 Variable Yes 4.20 % 1.45 % 5.65 % Legacy Commons at Signal Hills GIL 31,155,000 (4) 2025 Variable Yes 4.20 % 0.91 % 5.11 % Osprey Village GIL 49,475,000 (4) 2025 Variable Yes 4.20 % 1.19 % 5.39 % Residency at the Mayer Taxable MRB 824,656 (4) 2025 Variable No 5.59 % 1.17 % 6.76 % Residency at Empire MRBs 29,847,760 (4) 2026 Variable Yes 4.20 % 1.42 % 5.62 % The Ivy Apartments 24,347,506 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Windsor Shores Apartments 17,196,987 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Village at Hanford Square 7,768,683 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % MaryAlice Circle Apartments 4,690,419 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Meadow Valley 22,039,174 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % 40rty on Colony 4,445,678 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Sandy Creek Apartments GIL 9,628,693 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Residency at the Mayer MRBs 33,803,106 (4) 2026 Variable Yes 4.20 % 1.19 % 5.39 % The Safford 15,286,911 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Avistar at Wood Hollow - Series A 32,463,660 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Live 929 53,092,000 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Jackson Manor Apartments 4,100,000 (4) 2027 Variable Yes 4.20 % 1.29 % 5.49 % Woodington Gardens - Series A-1 24,824,240 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Aventine Apartments 7,551,963 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Montecito at Williams Ranch - Series A 6,783,767 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Vineyard Gardens - Series A 3,594,028 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Avistar at Copperfield - Series A 11,304,585 (4) 2027 Variable Yes 4.20 % 1.68 % 5.88 % Avistar at Wilcrest - Series A 4,280,584 (4) 2027 Variable Yes 4.20 % 1.68 % 5.88 % Trust 2024-XF3219 (5) 31,294,815 (4) 2027 Variable No 5.59 % 1.79 % 7.38 % Barclays Capital Inc.: Trust 2021-XF2953 (6) 54,628,333 - 2025 Variable No 5.47 % 1.27 % 6.74 % Poppy Grove I GIL 22,274,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Poppy Grove II GIL 10,030,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Poppy Grove III GIL 16,437,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Village Point 18,389,543 - 2025 Variable Yes 5.10 % 1.61 % 6.71 % Subtotal/Weighed Average Period End Rate 676,441,644 5.87 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,689,225 - 2025 Fixed Yes N/A N/A 6.33 % Total Debt Financings $ 1,052,526,098 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. (4) The Partnership has restricted cash totaling approximately $ 16.8 million related to its total net position with Mizuho. (5) The TOB trust is securitized by seven MRBs, nine taxable MRBs, and one property loan. (6) The TOB trust is securitized by the Willow Place GIL & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 66,621,825 $ 4,999 2024 Variable Yes 3.90 % 1.31 % 5.21 % M33 TEBS 28,870,624 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS 209,769,942 5,000 2034 Fixed Yes N/A N/A 4.39 % Subtotal/Weighed Average Period End Rate 305,262,391 4.46 % TEBS Residual Financing $ 60,322,317 $ - 2034 Fixed Yes N/A N/A 7.16 % TOB Trust Securitizations Mizuho Capital Markets: Hope on Avalon GIL 18,711,665 (4) 2024 Variable Yes 4.24 % 1.44 % 5.68 % Jackson Manor Apartments 4,100,000 (4) 2024 Variable Yes 4.24 % 1.29 % 5.53 % Trust 2021-XF2926 (5) 38,496,952 (4) 2024 Variable No 5.59 % 0.90 % 6.49 % SoLa Impact Opportunity Zone Fund 23,741,122 (4) 2024 Variable No 5.59 % 1.78 % 7.37 % Montevista - Series A 5,618,833 (4) 2025 Variable Yes 4.24 % 1.28 % 5.52 % Montecito at Williams Ranch - Series A 6,813,244 (4) 2025 Variable Yes 4.24 % 1.18 % 5.42 % Vineyard Gardens - Series A 3,593,615 (4) 2025 Variable Yes 4.24 % 1.18 % 5.42 % The Park at Sondrio - Series 2022A 30,396,222 (4) 2025 Variable Yes 4.24 % 1.43 % 5.67 % The Park at Vietti - Series 2022A 21,522,158 (4) 2025 Variable Yes 4.24 % 1.43 % 5.67 % Avistar at Copperfield - Series A 11,370,985 (4) 2025 Variable Yes 4.24 % 1.68 % 5.92 % Avistar at Wilcrest - Series A 4,303,984 (4) 2025 Variable Yes 4.24 % 1.68 % 5.92 % Residency at the Entrepreneur MRBs 23,040,000 (4) 2025 Variable Yes 4.24 % 1.45 % 5.69 % Legacy Commons at Signal Hills GIL 31,155,000 (4) 2025 Variable Yes 4.24 % 0.91 % 5.15 % Osprey Village GIL 49,475,000 (4) 2025 Variable Yes 4.24 % 1.19 % 5.43 % Trust 2021-XF2939 (6) 21,821,644 (4) 2025 Variable No 5.59 % 1.17 % 6.76 % Residency at Empire MRBs 18,267,048 (4) 2026 Variable Yes 4.24 % 1.42 % 5.66 % The Ivy Apartments 24,330,930 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Windsor Shores Apartments 17,183,983 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Village at Hanford Square 7,760,141 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % MaryAlice Circle Apartments 4,682,351 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Meadow Valley 15,438,915 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % 40rty on Colony 4,440,847 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Sandy Creek Apartments GIL 9,616,853 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Residency at the Mayer - Series A 24,335,000 (4) 2026 Variable Yes 4.24 % 1.19 % 5.43 % The Safford 5,911,780 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Avistar at Wood Hollow - Series A 32,673,300 (4) 2027 Variable Yes 4.24 % 1.44 % 5.68 % Live 929 53,092,000 (4) 2027 Variable Yes 4.24 % 1.18 % 5.42 % Barclays Capital Inc.: Trust 2021-XF2953 (7) 69,694,599 - 2024 Variable No 5.48 % 1.27 % 6.75 % Poppy Grove I GIL 15,872,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Poppy Grove II GIL 7,628,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Poppy Grove III GIL 13,235,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Village Point 18,381,720 - 2024 Variable Yes 4.43 % 1.61 % 6.04 % Subtotal/Weighed Average Period End Rate 636,705,380 5.87 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,739,978 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 1,015,030,066 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. (4) The Partnership has restricted cash totaling approximately $ 9.6 million related to its total net position with Mizuho. (5) The TOB trust is securitized by the Legacy Commons at Signal Hills property loan and the Hope on Avalon taxable GIL. (6) The TOB trust is securitized by the Residency at the Mayer taxable MRB and Osprey Village property loan. (7) The TOB trust is securitized by the Willow Place GIL, property loan & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. The TOB, term TOB, TEBS financing, and TEBS Residual Financing are consolidated VIEs of the Partnership (Note 3). The Partnership is the primary beneficiary due to its rights to the underlying assets. Accordingly, the Partnership consolidates the TOB, term TOB, TEBS financings, and TEBS Residual Financing on the Partnership's condensed consolidated financial statements. See information regarding the MRBs, GILs, property loans, taxable MRBs and taxable GILs securitized within the TOB, term TOB, TEBS financings, and TEBS Residual Financing in Notes 4, 5, 6 and 9, respectively. As the residual interest holder in the TOB, term TOB, and TEBS financing, the Partnership may be required to make certain payments or contribute certain assets to the VIEs if certain events occur. Such events include, but are not limited to, a downgrade in the investment rating of the senior securities issued by the VIEs, a ratings downgrade of the liquidity provider for the VIEs, increases in short term interest rates beyond pre-set maximums, an inability to re-market the senior securities, or an inability to obtain liquidity for the senior securities. If such an event occurs in an individual VIE, the Partnership may be required to deleverage the VIE by repurchasing some or all of the senior securities. Otherwise, the underlying collateral will be sold and, if the proceeds are not sufficient to pay the principal amount of the senior securities plus accrued interest and other trust expenses, the Partnership will be required to fund any such shortfall. If the Partnership does not fund the shortfall, the default and liquidation provisions will be invoked against the Partnership. The shortfall on each TEBS financing is limited to the Partnership’s residual interest. The Partnership has never been, and does not expect in the future, to be required to reimburse the VIEs for any shortfall. As the residual interest holder in the TEBS Residual Financing, the Partnership may make certain payments or contribute certain assets to the VIE to prevent a default under the arrangement. If the Partnership does not or is unable to cure the default, the default and liquidation provisions will be invoked and the underlying assets will be sold, which may result in the Partnership’s residual interest not being recovered. The Partnership has entered into various TOB trust financings with Mizuho and Barclays secured by various investment assets. The TOB trusts with Mizuho and Barclays are subject to respective ISDA master agreements that contain certain covenants and requirements. The TOB trust financings with Mizuho and Barclays require that the Partnership's residual interests must maintain a certain value in relation to the total assets in each TOB trust. The Mizuho and Barclays master agreements also require the Partnership's partners' capital, as defined, to maintain a certain threshold and that the Partnership remain listed on a national securities exchange. The master agreement with Barclays also puts limits on the Partnership's Leverage Ratio (as defined by the Partnership). In addition, both Mizuho and Barclays master agreements specify that default(s) on the Partnership’s other senior debts above a specified dollar amount, in the aggregate, will constitute a default under the master agreement. If the Partnership is not in compliance with any of these covenants, a termination event of the financing facilities would be triggered. The Partnership was in compliance with these covenants as of June 30, 2024. The Partnership is subject to mark-to-market collateral posting provision for positions under the ISDA master agreements with Mizuho and Barclays related to the TOB Trusts. The amount of collateral posting required is dependent on the valuation of the securitized assets and interest rate swaps (Note 15) in relation to thresholds set by Mizuho and Barclays at the initiation of each transaction. The Partnership had posted approximately $ 16.8 million and $ 9.6 million of cash collateral with Mizuho as of June 30, 2024 and December 31, 2023, respectively. There was no required cash collateral posted with Barclays as of June 30, 2024 or December 31, 2023. As of June 30, 2024 and December 31, 2023, the Partnership posted restricted cash as contractually required under the terms of the three TEBS financings. In addition, the Partnership has entered into an interest rate cap agreement to mitigate its exposure to interest rate fluctuations on the variable-rate M31 TEBS financing (Note 15). The Term TOB trust financing with Morgan Stanley is subject to a Trust Agreement and other related agreements that contain covenants with which the Partnership or the underlying MRB are required to comply. The underlying property must maintain certain occupancy and debt service covenants. A termination event will occur if the Partnership’s net assets, as defined, decrease by 25 % in one quarter or 35 % over one year. The covenants also require the Partnership’s partners’ capital, as defined, to maintain a certain threshold and that the Partnership remain listed on a nationally recognized stock exchange. If the underlying property or the Partnership, as applicable, is out of compliance with any of these covenants, a termination event of the financing facility would be triggered. The Partnership was in compliance with these covenants as of June 30, 2024. The Partnership’s variable rate debt financing arrangements include maximum interest rate provisions that prevent the debt service on the debt financings from exceeding the cash flows from the underlying securitized assets. Activity in the First Six Months of 2024 New Debt Financings: The following is a summary of the new TOB trust financings that were entered into during the six months ended June 30, 2024: TOB Trust Securitization Initial TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Facility Fees Southpark MRB $ 9,840,000 June 2024 Variable Yes 1.44 % Trust 2024-XF3219 21,795,000 February 2027 Variable No 1.79 % Woodington Gardens - Series A-1 24,920,000 April 2027 Variable Yes 1.44 % Aventine Apartments 7,600,000 June 2027 Variable Yes 1.44 % Total TOB Trust Financings $ 64,155,000 In March 2024, the Partnership deposited the Residency at the Mayer - Series M MRB into the existing TOB Trust 2022-XF3059 and received additional debt financing proceeds of approximately $ 9.5 million. In April 2024, the Partnership deposited the Woodington Gardens - Series A-2 taxable MRB into the existing TOB Trust 2024-XF3219 and received additional debt financing proceeds of approximately $ 2.1 million. In June 2024, the Partnership deposited the Residency at Empire - Series BB-4 MRB into the existing TOB Trust 2023-XF3077 and received additional debt financing proceeds of approximately $ 3.2 million. In June 2024, the Partnership deposited the Residency at the Entrepreneur - Series J-4 MRB into the existing TOB Trust 2024-XF3219 and received additional debt financing proceeds of approximately $ 3.1 million. Redemptions: The following is a summary of the debt financing principal payments made in connection with the redemption of underlying assets during the six months ended June 30, 2024: Debt Financing Debt Facility Month Paydown Applied Hope on Avalon GIL TOB Trust January 2024 $ 18,712,000 Trust 2021-XF2926 - Hope on Avalon taxable GIL TOB Trust January 2024 9,515,000 Trust 2021-XF2939 - Osprey Village property loan TOB Trust February 2024 12,365,000 Trust 2021-XF2939 - Osprey Village Supplemental property loan TOB Trust February 2024 3,795,000 Trust 2021-XF2953 - Willow Place property loan TOB Trust February 2024 15,080,000 Trust 2021-XF2926 - Legacy Commons at Signal Hills property loan TOB Trust February 2024 28,985,000 Trust 2021-XF2939 - Residency at the Mayer Series A-T TOB Trust March 2024 9,480,000 SoLa Impact Opportunity Zone Fund TOB Trust March 2024 350,000 $ 98,282,000 Refinancing Activity: In April 2024, the maturity date of the Partnership’s Term TOB financing associated with the Village at Avalon MRB was extended to May 2025 and the interest rate increased to 6.33 %. In June 2024, the Partnership executed an extension of the maturity dates of the Montecito at Williams Ranch - Series A, Vineyard Gardens - Series A, Avistar at Copperfield - Series A, Avistar at Wilcrest - Series A, and Jackson Manor Apartments TOB trust financings to July 2027. There were no additional changes to terms or fees associated with the extensions. The Partnership executed three-month extensions of the maturity dates of the Barclays TOB financings of Trust 2021-XF2953, Poppy Grove I GIL, Poppy Grove II GIL, Poppy Grove III GIL, and Village Point to April 2025. There were no additional changes to terms or fees associated with the extensions. Activity in the First Six Months of 2023 New Debt Financings: The following is a summary of the new TOB trust financings that were entered into during the six months ended June 30, 2023: TOB Trusts Securitization Initial TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Facility Fees Residency at Empire MRB $ 14,400,000 January 2026 Variable Yes 1.42 % Windsor Shores MRB 17,236,000 January 2026 Variable Yes 1.44 % SoLa Impact Opportunity Zone Fund 27,300,000 December 2024 Variable No 1.78 % The Ivy Apartments MRB 24,400,000 February 2026 Variable Yes 1.44 % Village at Hanford Square MRB 7,800,000 May 2026 Variable Yes 1.44 % MaryAlice Circle MRB 4,720,000 May 2026 Variable Yes 1.44 % Meadow Valley MRB 8,606,000 June 2026 Variable Yes 1.44 % Village Point MRB 18,400,000 June 2024 Variable Yes 1.61 % Total TOB Trust Financings $ 122,862,000 Redemptions: The following is a summary of the debt trust financing repaid in connection with the redemption of the underlying asset during the six months ended June 30, 2023: Debt Financing Debt Facility Month Paydown Applied Greens of Pine Glen M31 TEBS February 2023 $ 7,579,000 Oasis at Twin Lakes GIL TOB Trust June 2023 30,600,000 Trust 2021-XF2926 - Oasis at Twin Lakes property loan TOB Trust June 2023 21,600,000 $ 59,779,000 Future Maturities The Partnership’s contractual maturities of borrowings as of June 30, 2024 for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: Remainder of 2024 $ 125,160,933 2025 318,247,785 2026 180,576,526 2027 169,928,219 2028 4,518,577 Thereafter 257,086,608 Total 1,055,518,648 Unamortized deferred financing costs and debt premium ( 2,992,550 ) Total debt financing, net $ 1,052,526,098

Mortgages Payable

Mortgages Payable	6 Months Ended
	Jun. 30, 2024
Mortgages Payable [Abstract]
Mortgages Payable	14. Mortgages Payable The following is a summary of the Partnership's mortgage payable, net of deferred financing costs, as of June 30, 2024 and December 31, 2023: Property Mortgage Payables Outstanding Mortgage Outstanding Mortgage Year Stated Maturity Variable Period End Vantage at San Marcos (1) $ 1,690,000 $ 1,690,000 2020 November 2024 Variable 9.25 % (1) The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 3).

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2024
Interest Rate Derivatives [Abstract]
Derivative Instruments	15. Derivative Instruments The Partnership’s derivative instruments are not designated as hedging instruments and are recorded at fair value. Changes in fair value are included in current period earnings as “Net result from derivative transactions” in the Partnership's condensed consolidated statements of operations, with gains reported as a reduction to expenses. The following tables are a summary of the unrealized and realized gains and losses of the Partnership's derivative instruments for the three and six months ended June 30, 2024 and 2023: For the Three Months ended June 30, 2024 For the Six Months ended June 30, 2024 Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Interest rate swaps $ ( 1,674,351 ) $ ( 210,618 ) $ ( 1,884,969 ) $ ( 3,337,800 ) $ ( 4,815,063 ) $ ( 8,152,863 ) Interest rate cap - 35 35 - 265 265 Total $ ( 1,674,351 ) $ ( 210,583 ) $ ( 1,884,934 ) $ ( 3,337,800 ) $ ( 4,814,798 ) $ ( 8,152,598 ) For the Three Months ended June 30, 2023 For the Six Months ended June 30, 2023 Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Interest rate swaps $ ( 1,273,493 ) $ ( 6,028,500 ) $ ( 7,301,993 ) $ ( 2,102,973 ) $ ( 2,598,498 ) $ ( 4,701,471 ) Interest rate cap - 8,235 8,235 - 14,200 14,200 Total return swaps ( 1,319,989 ) - ( 1,319,989 ) ( 2,643,340 ) - ( 2,643,340 ) Total $ ( 2,593,482 ) $ ( 6,020,265 ) $ ( 8,613,747 ) $ ( 4,746,313 ) $ ( 2,584,298 ) $ ( 7,330,611 ) The value of the Partnership’ interest rate swaps are subject to mark-to-market collateral posting provisions in conjunction with the Partnership’s respective ISDA master agreements (Note 13). See Note 20 for a description of the methodology and significant assumptions for determining the fair value of the derivatives. The derivative instruments are presented within “Other assets” and “Accounts payable, accrued expenses and other liabilities” in the Partnership's condensed consolidated balance sheets. The Partnership has entered into multiple interest rate swap agreements with large financial institutions to mitigate interest rate risk associated with variable rate TOB trust financings (Note 13). No fees were paid to the counterparties upon closing of the interest rate swaps. The Partnership has entered into an interest rate cap agreement to mitigate our exposure to interest rate risk associated with a variable-rate debt financing facility. The following tables summarize the Partnership’s derivative instruments as of June 30, 2024 and December 31, 2023: Fair Value as of Contract Type Notional Amount Asset Liability Weighted Average Swaps SOFR 365,678,394 $ 9,679,247 $ ( 418,075 ) 3.11 Cap 4.5 % SIFMA Rate Cap 72,578,127 - - 0.17 438,256,521 $ 9,679,247 $ ( 418,075 ) Fair Value as of Contract Type Notional Amount Asset Liability Weighted Average Swaps SOFR 333,250,226 $ 5,254,398 $ ( 705,694 ) 3.48 Cap 4.5 % SIFMA Rate Cap 73,393,729 265 - 0.67 406,643,955 $ 5,254,663 $ ( 705,694 ) The following table summarizes the average notional amount and weighted average fixed rate by year for our interest rate swaps as of June 30, 2024: Year Average Notional Weighted Average Remainder of 2024 $ 391,117,465 3.52 % 2025 322,456,631 3.39 % 2026 272,318,799 3.36 % 2027 186,920,466 3.44 % 2028 150,622,132 3.54 % 2029 114,067,299 3.45 % 2030 14,317,800 3.74 %

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies Legal Proceedings The Partnership, from time to time, is subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are frequently covered by insurance. If it has been determined that a loss is probable to occur and the amount of the loss can be reasonably estimated, the estimated amount of the loss is accrued in the Partnership's condensed consolidated financial statements. If the Partnership determines that a loss is reasonably possible, the Partnership will, if material, disclose the nature of the loss contingency and the estimated range of possible loss, or include a statement that no estimate of loss can be made. While the resolution of these matters cannot be predicted with certainty, the Partnership currently believes there are no pending legal proceedings in which the Partnership is currently involved the outcome of which will have a material effect on the Partnership’s financial condition, results of operations, or cash flows. Bond Purchase Commitments The Partnership may enter into bond purchase commitments related to MRBs to be issued and secured by properties under construction. Upon execution of the bond purchase commitment, the proceeds from the MRBs will be used to pay off the construction related debt. The Partnership bears no construction or stabilization risk during the commitment period. The Partnership accounts for its bond purchase commitments as available-for-sale securities and reports the asset or liability at fair value. Changes in the fair value of bond purchase commitments are recorded as gains or losses on the Partnership's condensed consolidated statements of comprehensive income (loss). The following table summarizes the Partnership’s bond purchase commitments as of June 30, 2024 and December 31, 2023: Bond Purchase Commitments Commitment Date Maximum Interest Estimated Closing Fair Value as of Fair Value as of Anaheim & Walnut September 2021 3,900,000 4.85 % Q3 2024 46,238 197,788 Investment Commitments The Partnership has remaining contractual commitments to provide additional funding of certain MRBs, taxable MRBs, GILs, taxable GILs, and property loans while the secured properties are under construction or rehabilitation. See Note 10 for additional information on the allowance for credit losses on such commitments. The Partnership also has outstanding contractual commitments to contribute additional equity to unconsolidated entities. The following table summarizes the Partnership’s total and remaining commitments as of June 30, 2024: Property Name Commitment Date Maturity Date Interest Rate (1) Total Initial Commitment Remaining Commitment Mortgage Revenue Bonds Meadow Valley December 2021 December 2029 6.25 % $ 44,000,000 $ 14,470,000 Residency at the Entrepreneur- Series J-4 April 2022 March 2040 SOFR + 3.60 % (2) 16,420,000 12,600,000 Residency at the Entrepreneur- Series J-5 February 2023 April 2025 (3) SOFR + 3.60 % 5,000,000 4,000,000 Residency at Empire - Series BB-4 December 2022 December 2040 6.45 % (4) 47,000,000 41,500,000 The Safford October 2023 October 2026 (3) 7.59 % 43,000,000 23,737,106 Subtotal 155,420,000 96,307,106 Taxable Mortgage Revenue Bonds Residency at the Entrepreneur Series J-T April 2022 April 2025 (3) SOFR + 3.65 % $ 8,000,000 $ 7,000,000 Residency at Empire - Series BB-T December 2022 December 2025 (3) 7.45 % 9,404,500 8,404,500 Village at Hanford Square - Series H-T May 2023 May 2030 7.25 % 10,400,000 6,900,000 40rty on Colony - Series P-T June 2023 June 2030 7.45 % 5,950,000 4,950,000 Subtotal 33,754,500 27,254,500 Governmental Issuer Loans Poppy Grove I September 2022 April 2025 (3) 6.78 % 35,688,328 7,842,328 Poppy Grove II September 2022 April 2025 (3) 6.78 % 22,250,000 9,708,700 Poppy Grove III September 2022 April 2025 (3) 6.78 % 39,119,507 18,569,507 Subtotal 97,057,835 36,120,535 Taxable Governmental Issuer Loans Poppy Grove I September 2022 April 2025 (3) 6.78 % $ 21,157,672 $ 20,157,672 Poppy Grove II September 2022 April 2025 (3) 6.78 % 10,941,300 9,941,300 Poppy Grove III September 2022 April 2025 (3) 6.78 % 24,480,493 23,480,493 Subtotal 56,579,465 53,579,465 Property Loans Sandy Creek Apartments August 2023 September 2026 (3) 8.63 % (5) $ 7,830,000 $ 1,042,008 Subtotal 7,830,000 1,042,008 Equity Investments Vantage at San Marcos (6), (7) November 2020 N/A N/A $ 9,914,529 $ 8,943,914 Freestone Greeley (7) October 2022 N/A N/A 16,035,710 10,562,345 Freestone Greenville December 2023 N/A N/A 20,049,570 12,639,538 Freestone Ladera (7) December 2023 N/A N/A 17,097,624 13,449,494 Subtotal 63,097,433 45,595,291 Bond Purchase Commitments Anaheim & Walnut September 2021 Q3 2024 (8) 4.85 % $ 3,900,000 $ 3,900,000 Subtotal 3,900,000 3,900,000 Total Commitments $ 417,639,233 $ 263,798,905 (1) The variable index interest rate components are subject to a floor of 0.27 %. (2) Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. (3) The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (4) Upon stabilization, the MRB will convert to a fixed rate of 10.0 % and become subordinate to the other senior MRBs of the borrower. (5) The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. (6) The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 3). (7) A development site has been identified for this property but construction had not commenced as of June 30, 2024. (8) This is the estimated closing date of the associated bond purchase commitment. Other Guaranties and Commitments The Partnership has entered into guaranty agreements with unaffiliated entities under which the Partnership has guaranteed certain obligations of the general partners of certain limited partnerships upon the occurrence of a “repurchase event.” Potential repurchase events include LIHTC recapture and foreclosure. The Partnership’s maximum exposure is limited to 75 % of the equity contributed by the limited partner to each limited partnership. No amount has been accrued for these guaranties because the Partnership believes the likelihood of repurchase events is remote. The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of June 30, 2024: Limited Partnership(s) End of Guaranty Period Partnership's Maximum Exposure Ohio Properties 2026 $ 1,960,152 Greens of Pine Glen, LP 2027 1,470,582 In December 2022, the Partnership sold 100 % of its ownership interest in The 50/50 MF Property to an unrelated non-profit organization. The buyer assumed two mortgages payable associated with the property and the Partnership agreed to provide certain recourse support for the assumed mortgages. The TIF Loan was paid off in June 2024, and the Partnership does not have exposure as of June 30, 2024. The mortgage support is in the form of a forward loan purchase agreement upon maturity of the mortgage. The reported value of the credit guaranties was approximately $ 324,000 and $ 343,000 as of June 30, 2024 and December 31, 2023, respectively, and are included within other liabilities in the Partnership's condensed consolidated balance sheets. No additional contingent liability has been accrued because the likelihood of claims is remote. The Partnership's remaining forward loan purchase agreement expires in 2027 and its maximum exposure as of June 30, 2024 was approximately $ 21.6 million . The Partnership has entered into various forward loan purchase agreements associated with construction loans for its investments in unconsolidated entities. Under these agreements, the Partnership will purchase a loan from the construction lender at maturity of the construction loan, which is typically five to seven years from closing, if not otherwise repaid by the borrower entity. The Partnership has the right to cure any defaults under the construction loan agreement that otherwise could accelerate the maturity of the construction loan. In addition, if the Partnership is required to perform under a forward loan purchase agreement, then it has the right to remove the managing member of the borrower entity, take ownership of the underlying property, and either sell the property or obtain replacement financing. Certain forward loan purchase agreements are only effective upon the receipt by the property of a certificate of occupancy by the borrower entity while others are effective as of the construction loan closing. The Partnership has recourse to the managing member of the borrower entity and/or the project’s general contractor for those agreements that are effective prior to the receipt of a certificate of occupancy. Total construction loan balances associated with effective forward loan purchase agreements are $ 127.2 million as of June 30, 2024. The Partnership has not recorded any non-contingent or contingent liabilities related to the forward loan purchase agreements as such amounts are deemed minimal.

Redeemable Preferred Units

Redeemable Preferred Units	6 Months Ended
	Jun. 30, 2024
Temporary Equity Disclosure [Abstract]
Redeemable Preferred Units	17. Redeemable Preferred Units The Partnership has designated three series of non-cumulative, non-voting, non-convertible Preferred Units that represent limited partnership interests in the Partnership consisting of the Series A Preferred Units, the Series A-1 Preferred Units, and the Series B Preferred Units. The Preferred Units have no stated maturity, are not subject to any sinking fund requirements, and will remain outstanding indefinitely unless redeemed by the Partnership or by the holder. If declared by the General Partner, distributions to the holders of Series A Preferred Units, Series A-1 Preferred Units, and Series B Preferred Units, are paid quarterly at annual fixed rates of 3.0 %, 3.0 % and 5.75 %, respectively. In April 2024, the Partnership redeemed $ 10.0 million of Series A Preferred Units pursuant to a notice of redemption previously submitted by a Series A Preferred Unitholder. In January 2024, the Partnership issued $ 17.5 million Series B Preferred Units in exchange for previously issued Series A Preferred Units. In addition, in February 2024, the Partnership issued $ 5.0 million of Series B Preferred Units to a new investor. The following table summarizes the Partnership’s outstanding Preferred Units as of June 30, 2024 and December 31, 2023: June 30, 2024 Month Issued Units Purchase Price Distribution Redemption Earliest Redemption Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % $ 10.00 April 2028 October 2022 1,000,000 10,000,000 3.00 % 10.00 October 2028 February 2023 1,500,000 15,000,000 3.00 % 10.00 February 2029 June 2023 1,000,000 10,000,000 3.00 % 10.00 June 2029 Total Series A-1 Preferred Units 5,500,000 55,000,000 Series B Preferred Units January 2024 1,750,000 $ 17,500,000 5.75 % 10.00 January 2030 February 2024 500,000 5,000,000 5.75 % $ 10.00 February 2030 Total Series B Preferred Units 2,250,000 22,500,000 Redeemable Preferred Units 7,750,000 $ 77,500,000 December 31, 2023 Month Issued Units Purchase Price Distribution Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 March 2017 1,000,000 10,000,000 3.00 % 10.00 October 2017 750,000 7,500,000 3.00 % 10.00 Total Series A Preferred Units 2,750,000 27,500,000 Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % $ 10.00 October 2022 1,000,000 10,000,000 3.00 % 10.00 February 2023 1,500,000 15,000,000 3.00 % 10.00 June 2023 1,000,000 10,000,000 3.00 % 10.00 Total Series A-1 Preferred Units 5,500,000 55,000,000 Redeemable Preferred Units 8,250,000 $ 82,500,000

Restricted Unit Awards

Restricted Unit Awards	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Restricted Unit Awards	18. Restricted Unit Awards The Amended and Restated Greystone Housing Impact Investors LP 2015 Equity Incentive Plan p ermits the grant of restricted units and other awards to the employees of Greystone Manager, the Partnership, or any affiliate of either, and members of the Board of Managers of Greystone Manager for up to 1.0 million BUCs. As of June 30, 2024, there were approximately 292,000 restricted units and other awards available for future issuance under the Plan. RUAs have historically been granted with vesting conditions ranging from three months to up to three years . Unvested RUAs are typically entitled to receive distributions during the restriction period. The Plan provides for accelerated vesting of the RUAs if there is a change in control related to the Partnership, the General Partner, or the general partner of the General Partner, or upon death or disability of the Plan participant. The fair value of each RUA is estimated on the grant date based on the Partnership’s exchange-listed closing price of the BUCs. The Partnership recognizes compensation expense for the RUAs on a straight-line basis over the requisite vesting period. The compensation expense for RUAs totaled approximately $ 559,000 and $ 587,000 for the three months ended June 30, 2024 and 2023, respectively. The compensation expense for RUAs totaled approximately $ 891,000 and $ 937,000 for the six months ended June 30, 2024 and 2023, respectively. Compensation expense is reported within “General and administrative expenses” on the Partnership’s condensed consolidated statements of operations. The following table summarizes the RUA activity for the six months ended June 30, 2024 and for the year ended December 31, 2023: Restricted Units Weighted average Unvested as of January 1, 2023 87,334 $ 19.33 Granted 105,274 17.65 Vested ( 97,008 ) 18.64 Unvested as of December 31, 2023 95,600 18.18 Granted 109,581 16.62 Unvested as of June 30, 2024 205,181 $ 17.35 The unrecognized compensation expense related to unvested RUAs granted under the Plan was approximately $ 1.9 million as of June 30, 2024. The remaining compensation expense is expected to be recognized over a weighted average period of 1.1 years. The total intrinsic value of unvested RUAs was approximately $ 3.0 million as of June 30, 2024.

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Transactions with Related Parties	19. Transactions with Related Parties The Partnership incurs costs for services and makes contractual payments to the General Partner, the general partner of the General Partner, and their affiliates. The costs are reported either as expenses or capitalized costs depending on the nature of each item. The following table summarizes transactions with related parties that are reflected in the Partnership's condensed consolidated financial statements for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Partnership administrative fees paid to the General Partner (1) $ 1,515,000 $ 1,628,000 $ 3,001,000 $ 3,206,000 Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities (2) 23,000 123,000 43,000 138,000 Referral fees paid to an affiliate (3) - 29,750 - 106,000 (1) The General Partner is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its investment assets for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to the General Partner. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s condensed consolidated statements of operations. (2) The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s condensed consolidated statements of operations. (3) The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2024, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond acquisition costs that are deferred and amortized as a yield adjustment to the related investment asset. The General Partner receives fees from the borrowers and sponsors of the Partnership’s investment assets for services provided to the borrower and based on the occurrence of certain investment transactions. These fees were paid by the borrowers or sponsors and are not reported in the Partnership’s condensed consolidated financial statements. The following table summarizes transactions between borrowers of the Partnership’s affiliates for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Investment/mortgage placement fees earned by the General Partner (1) 1,544,000 785,000 $ 1,569,000 $ 3,042,000 (1) The General Partner received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities. As of June 30, 2024, Greystone Servicing Company LLC, an affiliate of the Partnership, has forward committed to purchase eight of the Partnership’s GILs (Note 5), once certain conditions are met, at a price equal to the outstanding principal plus accrued interest. Greystone Servicing Company LLC is committed to then immediately sell the GILs to Freddie Mac pursuant to a financing commitment between Greystone Servicing Company LLC and Freddie Mac. Greystone Servicing Company LLC did not purchase any of the Partnership’s GILs during the six months ended June 30, 2024. In June 2023, Greystone Servicing Company LLC purchased the Oasis at Twin Lakes GIL for approximately $ 34.1 million, consisting of principal and accrued interest. Greystone Select, an affiliate of the Partnership, has provided a deficiency guaranty of the Partnership’s obligations under the Secured Credit Agreement related to the Partnership's General LOC (Note 12). The guaranty is enforceable if an event of default occurs, the administrative agent takes certain actions in relation to the collateral and the amounts due under the Secured Credit Agreement are not collected within a certain period of time after the commencement of such actions. No fees were paid to Greystone Select related to the deficiency guaranty agreement. The Partnership reported receivables due from unconsolidated entities of approximately $ 178,000 and $ 169,000 as of June 30, 2024 and December 31, 2023, respectively. These amounts are reported within “Other assets” in the Partnership's condensed consolidated balance sheets. The Partnership had outstanding liabilities due to related parties totaling approximately $ 578,000 and $ 588,000 as of June 30, 2024 and December 31, 2023, respectively. These amounts are reported within “Accounts payable, accrued expenses and other liabilities” in the Partnership's condensed consolidated balance sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements [Abstract]
Fair Value of Financial Instruments	20. Fair Value of Financial Instruments Current accounting guidance on fair value measurements establishes a framework for measuring fair value and provides for expanded disclosures about fair value measurements. The guidance: • Defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date; and • Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. To increase consistency and comparability in fair value measurements and related disclosures, the fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of the hierarchy are defined as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 inputs are unobservable inputs for assets or liabilities. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for the assets and liabilities measured at fair value on a recurring basis. Investments in MRBs, Taxable MRBs and Bond Purchase Commitments The fair value of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of June 30, 2024 and December 31, 2023, is based upon prices obtained from third-party pricing services, which are estimates of market prices. There is no active trading market for these securities, and price quotes for the securities are not available. The valuation methodology of the Partnership’s third-party pricing services incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of each security as well as other quantitative and qualitative characteristics including, but not limited to, market interest rates, illiquidity, legal structure of the borrower, collateral, seniority to other obligations, operating results of the underlying property, geographic location, and property quality. These characteristics are used to estimate an effective yield for each security. The security fair value is estimated using a discounted cash flow and yield to maturity or call analysis by applying the effective yield to contractual cash flows. Significant increases (decreases) in the effective yield would have resulted in a significantly lower (higher) fair value estimate. Changes in fair value due to an increase or decrease in the effective yield do not impact the Partnership’s cash flows. The Partnership evaluates pricing data received from the third-party pricing services by evaluating consistency with information from either the third-party pricing services or public sources. The fair value estimates of the MRBs, taxable MRBs and bond purchase commitments are based largely on unobservable inputs believed to be used by market participants and requires the use of judgment on the part of the third-party pricing services and the Partnership. Due to the judgments involved, the fair value measurements of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments are categorized as Level 3 assets. The range of effective yields and weighted average effective yields of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of June 30, 2024 and December 31, 2023 are as follows: Range of Effective Yields Weighted Average Effective Yields (1) Security Type June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Mortgage revenue bonds (2) 2.9 % - 8.4 % 2.3 % - 7.7 % 5.5 % 4.8 % Taxable mortgage revenue bonds 7.1 % - 11.9 % 6.5 % - 11.9 % 8.9 % 8.8 % Bond purchase commitments 4.7 % 4.1 % 4.7 % 4.1 % (1) Weighted by the total principal outstanding of all the respective securities as of the reporting date . (2) Mortgage revenue bonds excludes the Provision Center 2014-1 MRB as the bankruptcy process is nearly complete. The valuation as of June 30, 2024 is based on expected additional liquidation proceeds of approximately $ 365,000 at final liquidation. Derivative Instruments The effect of the Partnership’s interest rate swap agreements is to change a variable rate debt obligation to a fixed rate for that portion of the debt equal to the notional amount of the derivative agreement. The Partnership uses a third-party pricing service that incorporates commonly used market pricing methods to value the interest rate swaps. The fair value is based on a model that considers observable indices and observable market trades for similar arrangements and therefore the interest rate swaps are categorized as Level 2 assets or liabilities. The effect of the Partnership’s interest rate cap is to set a cap, or upper limit, subject to performance of the counterparty, on the base rate of interest paid on the Partnership’s variable rate debt financings equal to the notional amount of the derivative agreement. The Partnership uses a third-party pricing service to value the interest rate cap. The inputs into the interest rate cap agreements valuation model include SOFR rates, unobservable adjustments to account for the SIFMA index, as well as any recent interest rate cap trades with similar terms. The fair value is based on a model with inputs that are not observable and therefore the interest rate cap is categorized as a Level 3 asset. The effect of the Partnership’s total return swap was to lower the net interest rate related to the Partnership’s Secured Notes equal to the notional amount of the derivative agreement. The Partnership used a third-party pricing service to value the total return swap position and the inputs in the total return swap valuation model include changes in the value of the Secured Notes and the associated changes in value of the underlying assets securing the Secured Notes, accrued and unpaid interest, and any potential gain share amounts. The fair value was based on a model with inputs that are not observable and therefore the total return swaps were categorized as Level 3 assets or liabilities. Assets measured at fair value on a recurring basis as of June 30, 2024 are summarized as follows: Fair Value Measurements as of June 30, 2024 Description Assets and Liabilities Quoted Prices in Significant Other Significant Assets and Liabilities Mortgage revenue bonds, held in trust $ 990,067,074 $ - $ - $ 990,067,074 Mortgage revenue bonds 11,984,951 - - 11,984,951 Bond purchase commitments (reported within other assets) 46,238 - - 46,238 Taxable mortgage revenue bonds (reported within other assets) 15,926,321 - - 15,926,321 Derivative instruments (reported within other assets) 9,679,247 - 9,679,247 - Derivative swap liability (reported within other liabilities) ( 418,075 ) - ( 418,075 ) - Total Assets and Liabilities at Fair Value, net $ 1,027,285,756 $ - $ 9,261,172 $ 1,018,024,584 The following table summarizes the activity related to Level 3 assets for the three and six months ended June 30, 2024: For the Three Months Ended June 30, 2024 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Mortgage Derivative Total Beginning Balance April 1, 2024 $ 942,745,597 $ 134,829 $ 10,980,756 $ 34 $ 953,861,216 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 56,457 - ( 2,894 ) ( 34 ) 53,529 Included in earnings (provision for credit loss) 169,308 - - - 169,308 Included in earnings (gain on sale of 1,012,581 - - - 1,012,581 Included in other comprehensive income ( 10,482,567 ) ( 88,591 ) ( 125,411 ) - ( 10,696,569 ) Purchases and advances 78,375,062 - 5,077,000 - 83,452,062 Sales ( 8,221,234 ) - - - ( 8,221,234 ) Settlements and redemptions ( 1,603,179 ) - ( 3,130 ) - ( 1,606,309 ) Ending Balance June 30, 2024 $ 1,002,052,025 $ 46,238 $ 15,926,321 $ - $ 1,018,024,584 Total amount of gains (losses) for the $ 186,653 $ - $ - $ ( 34 ) $ 186,619 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Six Months ended June 30, 2024 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Mortgage Derivative Total Beginning Balance January 1, 2024 $ 930,675,295 $ 197,788 $ 21,460,288 $ 265 $ 952,333,636 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 127,840 - ( 8,944 ) ( 265 ) 118,631 Included in earnings (provision for credit loss) 169,308 - - - 169,308 Included in earnings (gain on sale of 1,012,581 - - - 1,012,581 Included in other comprehensive income ( 22,520,881 ) ( 151,550 ) ( 95,834 ) - ( 22,768,265 ) Purchases and advances 104,672,860 - 6,077,000 - 110,749,860 Sales ( 8,221,234 ) - - - ( 8,221,234 ) Settlements and redemptions ( 3,863,744 ) - ( 11,506,189 ) - ( 15,369,933 ) Ending Balance June 30, 2024 $ 1,002,052,025 $ 46,238 $ 15,926,321 $ - $ 1,018,024,584 Total amount of gains (losses) for the $ 203,808 $ - $ - $ ( 265 ) $ 203,543 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. Assets measured at fair value on a recurring basis as of December 31, 2023 are summarized as follows: Fair Value Measurements as of December 31, 2023 Description Assets and Liabilities Quoted Prices in Significant Other Significant Assets and Liabilities Mortgage revenue bonds, held in trust $ 883,030,786 $ - $ - $ 883,030,786 Mortgage revenue bonds 47,644,509 - - 47,644,509 Bond purchase commitments (reported within other assets) 197,788 - - 197,788 Taxable mortgage revenue bonds (reported within other assets) 21,460,288 - - 21,460,288 Derivative instruments (reported within other assets) 5,254,663 - 5,254,398 265 Derivative swap liability (reported within other liabilities) ( 705,694 ) - ( 705,694 ) - Total Assets and Liabilities at Fair Value, net $ 956,882,340 $ - $ 4,548,704 $ 952,333,636 The following tables summarize the activity related to Level 3 assets and liabilities for the three and six months ended June 30, 2023: For the Three Months ended June 30, 2023 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Derivative Total Beginning Balance April 1, 2023 $ 867,383,622 $ 211,476 $ 18,146,540 $ 285,145 $ 886,026,783 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 77,836 - ( 6,049 ) 1,311,754 1,383,541 Included in other comprehensive income ( 11,144,483 ) ( 73,376 ) ( 355,087 ) - ( 11,572,946 ) Purchases and advances 51,164,875 - 4,514,875 - 55,679,750 Settlements and redemptions ( 1,517,871 ) - ( 2,861 ) ( 1,295,275 ) ( 2,816,007 ) Ending Balance June 30, 2023 $ 905,963,979 $ 138,100 $ 22,297,418 $ 301,624 $ 928,701,121 Total amount of gains (losses) for the $ 17,345 $ - $ - $ ( 8,235 ) $ 9,110 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Six Months Ended June 30, 2023 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Derivative Total Beginning Balance January 1, 2023 $ 799,408,004 $ 98,929 $ 16,531,896 $ 331,240 $ 816,370,069 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 155,329 - ( 12,099 ) 2,629,139 2,772,369 Included in other comprehensive income 9,434,568 39,171 ( 536,596 ) - 8,937,143 Purchases and advances 111,787,688 - 6,319,875 - 118,107,563 Settlements and redemptions ( 14,821,610 ) - ( 5,658 ) ( 2,658,755 ) ( 17,486,023 ) Ending Balance June 30, 2023 $ 905,963,979 $ 138,100 $ 22,297,418 $ 301,624 $ 928,701,121 Total amount of gains for the $ 34,312 $ - $ - $ ( 14,259 ) $ 20,053 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. Total gains and losses included in earnings for the derivative instruments are reported within “Net result from derivative transactions” in the Partnership's condensed consolidated statements of operations. As of June 30, 2024 and December 31, 2023, the Partnership utilized a third-party pricing service to determine the fair value of the Partnership’s GILs, taxable GILs, and construction financing property loans that share a first mortgage lien with the GILs, which is an estimate of their market price. The valuation methodology of the Partnership’s third-party pricing service incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of the GILs and property loans as well as other quantitative and qualitative characteristics including, but not limited to, the progress of construction and operations of the underlying properties, and the financial capacity of guarantors. The valuation methodology also considers the probability that conditions for the execution of forward commitments to purchase the GILs will be met. Due to the judgments involved, the fair value measurements of the Partnership’s GILs, taxable GIL, and construction financing property loans are categorized as Level 3 assets. The estimated fair value of the GILs and taxable GILs was $ 215.8 million and $ 2.0 million as of June 30, 2024, respectively. The estimated fair value of the GILs and taxable GILs was $ 225.7 million and $ 12.1 million as of December 31, 2023, respectively. The fair value of the construction financing property loans approximated amortized cost as of June 30, 2024 and December 31, 2023. As of June 30, 2024 and December 31, 2023, the Partnership utilized a third-party pricing service to determine the fair value of the Partnership’s financial liabilities, which are estimates of market prices. The valuation methodology of the Partnership’s third-party pricing service incorporates commonly used market pricing methods. The valuation methodology considers the underlying characteristics of each financial liability as well as other quantitative and qualitative characteristics including, but not limited to, market interest rates, legal structure, seniority to other obligations, operating results of the underlying assets, and asset quality. The financial liability values are then estimated using a discounted cash flow and yield to maturity or call analysis. The Partnership evaluates pricing data received from the third-party pricing service, including consideration of current market interest rates, quantitative and qualitative characteristics of the underlying collateral, and other information from either the third-party pricing service or public sources. The fair value estimates of these financial liabilities are based largely on unobservable inputs believed to be used by market participants and require the use of judgment on the part of the third-party pricing service and the Partnership. Due to the judgments involved, the fair value measurements of the Partnership’s financial liabilities are categorized as Level 3 liabilities. The TEBS financings are credit enhanced by Freddie Mac. The TOB trust financings are credit enhanced by either Mizuho or Barclays. The table below summarizes the fair value of the Partnership’s financial liabilities as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Financial Liabilities: Debt financing $ 1,052,526,098 $ 1,049,918,127 $ 1,015,030,066 $ 1,019,218,351 Secured lines of credit 41,250,000 41,250,000 33,400,000 33,400,000 Mortgages payable 1,690,000 1,690,000 1,690,000 1,690,000

Income Tax Provision

Income Tax Provision	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	21. Income Taxes The Partnership recognizes current income tax expense for federal, state, and local income taxes incurred by the Greens Hold Co, which owned The 50/50 MF Property until December 2022, and also owns certain property loans and real estate. The following table summarizes income tax expense (benefit) for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Current income tax expense (benefit) $ ( 10 ) $ ( 76 ) $ ( 4,206 ) $ 8,264 Deferred income tax expense (benefit) ( 776 ) ( 1,073 ) 2,222 ( 2,055 ) Total income tax expense (benefit) $ ( 786 ) $ ( 1,149 ) $ ( 1,984 ) $ 6,209 The Partnership evaluated whether it is more likely than not that its deferred income tax assets will be realizable. There was no valuation allowance recorded as of June 30, 2024 and December 31, 2023.

Partnership Income, Expenses an

Partnership Income, Expenses and Distributions	6 Months Ended
	Jun. 30, 2024
Partnership Income Expenses And Cash Distributions [Abstract]
Partnership Income, Expenses and Distributions	22. Partnership Income, Expenses and Distributions The Partnership Agreement contains provisions for the distribution of Net Interest Income, Net Residual Proceeds and Liquidation Proceeds, for the allocation of income or loss from operations, and for the allocation of income and loss arising from a repayment, sale, or liquidation of investments. Income and losses will be allocated to each Unitholder on a periodic basis, as determined by the General Partner, based on the number of Preferred Units and BUCs held by each Unitholder as of the last day of the period for which such allocation is to be made. Distributions of Net Interest Income and Net Residual Proceeds will be made to each Unitholder of record on the last day of each distribution period based on the number of Preferred Units and BUCs held by each Unitholder on that date. Cash distributions are currently made on a quarterly basis. The holders of the Preferred Units are entitled to distributions at a fixed rate per annum prior to payment of distributions to other Unitholders. For purposes of the Partnership Agreement, income and cash received by the Partnership from its investments in MF Properties, investments in unconsolidated entities, and property loans will be included in the Partnership’s Net Interest Income, and cash distributions received by the Partnership from the sale or redemption of such investments will be included in the Partnership’s Net Residual Proceeds. Net Interest Income (Tier 1) is allocated 99 % to the limited partners and BUC holders as a class and 1 % to the General Partner. Net Interest Income (Tier 2) and Net Residual Proceeds (Tier 2) are allocated 75 % to the limited partners and BUC holders as a class and 25 % to the General Partner. Net Interest Income (Tier 2) and Net Residual Proceeds (Tier 2) in excess of the maximum allowable amount as set forth in the Partnership Agreement are considered Net Interest Income (Tier 3) and Net Residual Proceeds (Tier 3) and are allocated 100 % to the limited partners and BUC holders as a class.

Net Income per BUC

Net Income per BUC	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income per BUC	23. Net income per BUC The Partnership has disclosed basic and diluted net income per BUC in the Partnership's condensed consolidated statements of operations. The unvested RUAs issued under the Plan are considered participating securities and are potentially dilutive. There were no dilutive BUCs for the three and six months ended June 30, 2024 and 2023.

Segments

Segments	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segments	24. Segments As of June 30, 2024, the Partnership had four reportable segments: (1) Affordable Multifamily MRB Investments, (2) Seniors and Skilled Nursing MRB Investments, (3) MF Properties, and (4) Market-Rate Joint Venture Investments. The Partnership separately reports its consolidation and elimination information because it does not allocate certain items to the segments. Affordable Multifamily MRB Investments Segment The Affordable Multifamily MRB Investments segment consists of the Partnership’s portfolio of MRBs, GILs, and related property loans that have been issued to provide construction and/or permanent financing for multifamily residential and commercial properties in their market areas. Such MRBs and GILs are held as investments and the related property loans, net of loan loss allowances, are reported as such on the Partnership's condensed consolidated balance sheets. As of June 30, 2024, the Partnership reported 87 MRBs and nine GILs in this segment. As of June 30, 2024, the multifamily residential properties securing the MRBs and GILs contain a total of 11,622 and 1,539 multifamily rental units, respectively. In addition, one MRB (Provision Center 2014-1) was collateralized by commercial real estate prior to a sale of the underlying real estate in July 2022 (Note 4). All “General and administrative expenses” on the Partnership's condensed consolidated statements of operations are reported within this segment. Seniors and Skilled Nursing MRB Investments Segment The Seniors and Skilled Nursing MRB Investments segment consists of two MRBs that have been issued to provide acquisition, construction and/or permanent financing for seniors housing and skilled nursing properties and a property loan associated with a lease of essential healthcare support buildings. Seniors housing consists of a combination of independent living, assisted living and memory care units. As of June 30, 2024, the two properties securing the MRBs contain a total of 294 beds. Market-Rate Joint Venture Investments Segment The Market-Rate Joint Venture Investments segment consists of the operations of ATAX Vantage Holdings, LLC, ATAX Freestone Holdings, LLC, ATAX Senior Housing Holdings I, LLC, and ATAX Great Hill Holdings LLC, which make noncontrolling investments in unconsolidated entities for the construction, stabilization, and ultimate sale of market-rate multifamily and seniors housing properties (Note 7). The Market-Rate Joint Venture Investments segment also includes the consolidated VIE of Vantage at San Marcos (Note 3). MF Properties Segment The MF Properties segment consists primarily of student housing residential properties that were previously owned by the Partnership. As of June 30, 2024 and December 31, 2023, the Partnership did not own any MF Properties. The Partnership previously owned the Suites on Paseo MF Property until the property was sold in December 2023 and there is no continuing involvement with the property. The Partnership previously sold The 50/50 MF Property to an unrelated non-profit organization in December 2022 in exchange for a seller financing property loan which is included in the MF Properties Segment. Income tax expense for the Greens Hold Co is reported within this segment. The following table details certain financial information for the Partnership’s reportable segments for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Total revenues Affordable Multifamily MRB Investments $ 19,993,802 $ 22,952,542 $ 39,992,779 $ 44,390,475 Seniors and Skilled Nursing MRB Investments 820,347 336,487 1,567,855 433,042 Market-Rate Joint Venture Investments 1,155,022 3,906,556 2,779,191 6,084,418 MF Properties - 1,108,356 - 2,333,976 Total revenues $ 21,969,171 $ 28,303,941 $ 44,339,825 $ 53,241,911 Interest expense Affordable Multifamily MRB Investments $ 13,853,241 $ 17,216,048 $ 26,622,380 $ 33,642,603 Seniors and Skilled Nursing MRB Investments 567,096 87,591 1,064,266 87,591 Market-Rate Joint Venture Investments 477,928 298,591 1,015,554 560,398 MF Properties - - - - Total interest expense $ 14,898,265 $ 17,602,230 $ 28,702,200 $ 34,290,592 Net result from derivative transactions Affordable Multifamily MRB Investments $ ( 1,615,398 ) $ ( 8,371,772 ) $ ( 7,050,960 ) $ ( 7,088,636 ) Seniors and Skilled Nursing MRB Investments ( 269,536 ) ( 241,975 ) ( 1,101,638 ) ( 241,975 ) Market-Rate Joint Venture Investments - - - - MF Properties - - - - Total net result from derivative transactions $ ( 1,884,934 ) $ ( 8,613,747 ) $ ( 8,152,598 ) $ ( 7,330,611 ) Depreciation expense Affordable Multifamily MRB Investments $ 5,966 $ 5,967 $ 11,933 $ 11,913 Seniors and Skilled Nursing MRB Investments - - - - Market-Rate Joint Venture Investments - - - - MF Properties - 399,441 - 798,476 Total depreciation expense $ 5,966 $ 405,408 $ 11,933 $ 810,389 Net income Affordable Multifamily MRB Investments $ 4,137,240 $ 9,780,399 $ 12,673,483 $ 8,978,826 Seniors and Skilled Nursing MRB Investments 307,787 479,871 1,390,227 576,426 Market-Rate Joint Venture Investments 669,370 10,931,529 1,699,068 28,210,796 MF Properties 63,739 95,373 63,739 312,346 Net income $ 5,178,136 $ 21,287,172 $ 15,826,517 $ 38,078,394 The following table details total assets for the Partnership’s reportable segments as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Total assets Affordable Multifamily MRB Investments $ 1,402,754,579 $ 1,413,596,701 Seniors and Skilled Nursing MRB Investments 58,420,535 43,532,926 Market-Rate Joint Venture Investments 162,038,096 140,791,041 MF Properties 7,991,397 7,034,690 Consolidation/eliminations ( 102,562,887 ) ( 91,554,656 ) Total assets $ 1,528,641,720 $ 1,513,400,702

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	25. Subsequent Events In July 2024, the Partnership entered into an additional interest rate swap agreement to mitigate interest rate risk associated with its variable rate TOB trust financings. The following table summarizes the terms of the interest rate swap agreement: Trade Date Notional Amount Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty July 2024 $ 5,075,000 8/1/2024 7/1/2034 3.905 % Compounded SOFR TOB Trusts Mizuho In July 2024, the Southpark MRB with outstanding principal of $ 12.3 million was redeemed in full and principal proceeds of $ 9.8 million were used to repay the Southpark MRB TOB trust financing facility in full. In July 2024, the Partnership entered into a new TOB trust financing arrangement with Mizuho. The following table summarizes the initial terms of the TOB trust financing: TOB Trusts Securitization TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Remarketing Senior Securities Rate Facility Fees Interest Rate The Centurion Foundation loan $ 5,075,000 July 2027 Variable No 5.59 % 1.79 % 7.38 % In July 2024, the borrower of the Legacy Commons at Signal Hills GIL extended the maturity date from August 1, 2024 to February 1, 2025 . Freddie Mac extended its forward purchase commitment maturity to February 1, 2025 as well. The Partnership received a fee of approximately $ 87,000 associated with the extension. There were no additional changes to terms associated with the extensions. In July 2024, the borrower of the Osprey Village GIL extended the maturity date from August 1, 2024 to February 1, 2025 . Freddie Mac extended its forward purchase commitment maturity to February 1, 2025 as well. The Partnership received a fee of approximately $ 150,000 associated with the extension. There were no additional changes to terms associated with the extensions. In July 2024, the M31 TEBS financing expiration of the current liquidity commitment rate from Freddie Mac was extended to December 2024. On that date, Freddie Mac will either extend the liquidity commitment at the current rate, reset the liquidity commitment fee rate, or require the conversion of the M31 TEBS senior certificates to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Consolidation	Consolidation The “Partnership,” as used herein, includes Greystone Housing Impact Investors LP, its consolidated subsidiaries and consolidated variable interest entities (Note 3). All intercompany transactions are eliminated. The consolidated subsidiaries of the Partnership for the periods presented consist of: • ATAX TEBS I, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M24 TEBS Financing with Freddie Mac; • ATAX TEBS II, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M31 TEBS Financing with Freddie Mac; • ATAX TEBS III, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M33 TEBS Financing with Freddie Mac; • ATAX TEBS IV, LLC, a special purpose entity owned and controlled by the Partnership, created to hold MRBs to facilitate the M45 TEBS Financing with Freddie Mac; • ATAX TEBS Holdings, LLC, a wholly owned subsidiary of the Partnership, which issued Secured Notes to Mizuho; • ATAX Vantage Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • ATAX Freestone Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • ATAX Senior Housing Holdings I, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of seniors housing properties; • ATAX Great Hill Holdings, LLC, a wholly owned subsidiary of the Partnership, which is committed to provide equity for the development of multifamily properties; • Greens Hold Co, a wholly owned corporation, which owns certain property loans and owned 100 % of The 50/50 MF Property, a real estate asset; and • Lindo Paseo LLC, a wholly owned limited liability company, which owned 100 % of the Suites on Paseo MF Property.
Use of Estimates and Assumptions in Preparation of Consolidated Financial Statements	Use of Estimates and Assumptions in Preparation of Consolidated Financial Statements The preparation of financial statements in conformity with GAAP requires the Partnership to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such SEC rules and regulations, although the Partnership believes that the disclosures are adequate to make the information presented not misleading. The most significant estimates and assumptions include those used in determining: (i) the fair value of MRBs and taxable MRBs; (ii) investment impairments; and (iii) allowances for credit losses. The Partnership’s condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2023. These condensed consolidated financial statements and notes have been prepared consistently with the 2023 Form 10-K. In the opinion of management, all adjustments (consisting of normal and recurring accruals) necessary to present fairly the Partnership’s financial position as of June 30, 2024, and the results of operations for the interim periods presented, have been made. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying condensed consolidated balance sheet as of December 31, 2023 was derived from the audited annual consolidated financial statements but does not contain all the footnote disclosures from the annual consolidated financial statements.
Risks And Uncertainties	Risks and Uncertainties The Federal Reserve has recently maintained rates at the current levels as it analyzes further employment, price and economic data for indications of inflation declining to its long-term annual inflation target of 2 %. The Federal Reserve continues to reduce its balance sheet of US treasury bonds and mortgage-backed securities which may cause further upward pressure on interest rates. In addition, geopolitical conflicts continue to impact the general global economic environment. These factors have maintained volatility in the fixed income markets, which has impacted the value of some of the Partnership’s investment assets, particularly those with fixed interest rates, which may result in collateral posting requirements under our debt financing arrangements. In addition, increases in short-term interest rates will generally result in increases in the interest cost associated with the Partnership’s variable rate debt financing arrangements and for construction debt of properties underlying our investments in unconsolidated entities. The extent to which general economic, geopolitical, and financial conditions will impact the Partnership’s financial condition or results of operations in the future is uncertain and actual results and outcomes could differ from current estimates. The recent inflationary environment in the United States may increase operating expenses at properties securing the Partnership’s inve stments and general operations, which may reduce net operating results of the related properties and result in lower debt service coverage or higher than anticipated capitalized interest requirements for properties under construction. Such occurrences may negatively impact the value of the Partnership’s investments. Increasing general and administrative expenses of the Partnership may adversely affect the Partnership’s operating results, including a reduction in net income. Furthe rmore, the potential for an economic recession either globally or locally in the U.S. or other economies could further impact the valuation of our investment assets, limit the Partnership’s ability to obtain additional debt financing from lenders, and limit opportunities for additional investments.
BUCs	BUCs The Partnership has issued BUCs representing assigned limited partnership interests to investors. Costs related to the issuance of BUCs are recorded as a reduction to partners’ capital when issued. The Partnership declared BUCs Distributions in the form of additional BUCs during the six months ended June 30, 2024 and the year ended December 31, 2023. All fractional BUCs resulting from the BUCs Distributions received cash for such fraction based on the market value of the BUCs on the record date. The BUCs Distributions have been applied retroactively to all net income per BUC, distributions per BUC and similar per BUC disclosures for all periods indicated in the Partnership’s condensed consolidated financial statements.
Reclassification	Reclassification Certain prior year amounts have been reclassified for consistency with the current period presentation. For the year ended December 31, 2023, the Partnership began reporting the realized and unrealized (gains) losses of its derivative transactions within “Net result from derivative transactions” on the Partnership’s consolidated statements of operations. Previously, the realized and unrealized (gains) losses of the Partnership's derivative transactions had been reported within "Interest expense" on the Partnership’s consolidated statement of operations. Accordingly, for the three and six months ended June 30, 2023, the Partnership has included the realized and unrealized (gains) losses of its derivative transactions within “Net result from derivative transactions” in conformity with the current reporting period presented herein. This reclassification has no effect on the Partnership’s reported “Net income” or “Partners’ capital” in the Partnership’s condensed consolidated financial statements for the periods presented.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, which enhances the disclosures about a public entity’s reportable segments and addresses requests from investors for additional, more detailed information about a reportable segment’s expenses. ASU 2023-07 is effective for the Partnership’s annual periods beginning after December 15, 2023 and interim periods with fiscal years beginning after December 15, 2024. The Partnership is currently assessing the impact of the adoption of this pronouncement on the consolidated financial statements.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2024
Variable Interest Entities [Abstract]
Variable Interest Entities Property Asset Carrying Value by Asset and Maximum Exposure	June 30, 2024 December 31, 2023 Carrying Value Maximum Carrying Value Maximum Mortgage revenue bonds held in trust $ 157,707,267 $ 153,571,233 $ 101,785,909 $ 95,186,213 Mortgage revenue bonds - - 3,450,188 3,150,000 Taxable mortgage revenue bonds (reported within other assets) 2,982,399 3,011,729 13,488,560 13,520,631 Governmental issuer loans held in trust 194,157,300 194,157,300 202,547,300 202,547,300 Taxable governmental issuer loans (reported within other assets) 3,000,000 3,000,000 13,573,000 13,573,000 Property loans 40,332,992 40,332,992 107,511,750 107,511,750 Investments in unconsolidated entities 157,940,664 157,940,664 136,653,246 136,653,246 $ 556,120,622 $ 552,013,918 $ 579,009,953 $ 572,142,140
Schedule of Assets and Liabilities of the Partnership Consolidated VIE	The following table summarizes the assets and liabilities of the Partnership’s consolidated VIEs as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Assets: Restricted cash $ 30,605 $ 12,605 Interest receivable, net 6,710,673 6,920,851 Mortgage revenue bonds held in trust, at fair value 990,067,074 883,030,786 Governmental issuer loans Governmental issuer loans held in trust 214,557,300 222,947,300 Allowance for credit losses ( 1,111,000 ) ( 1,294,000 ) Governmental issuer loans, net 213,446,300 221,653,300 Property loans Property loans 48,451,538 108,271,420 Allowance for credit losses ( 305,000 ) ( 675,000 ) Property loans, net 48,146,538 107,596,420 Real estate assets 3,606,658 3,606,658 Other assets 19,477,562 24,999,197 Total Assets $ 1,281,485,410 $ 1,247,819,817 Liabilities: Accounts payable, accrued expenses and other liabilities (1) $ 8,362,553 $ 8,656,003 Debt financing (2) 1,055,752,907 1,018,314,376 Mortgages payable (3) 1,690,000 1,690,000 Total Liabilities $ 1,065,805,460 $ 1,028,660,379 (1) Of the amounts reported, $ 5,191,201 and $ 5,495,426 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively. (2) Of the amounts reported, $ 365,346,908 and $ 367,807,377 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively. (3) The entire mortgages payable balance is associated with a VIE where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively.

Mortgage Revenue Bonds (Tables)

Mortgage Revenue Bonds (Tables)	6 Months Ended
	Jun. 30, 2024
Investments In Mortgage Revenue Bonds [Abstract]
Schedule of Investments in MRBs	The Partnership had the following investments in MRBs as of June 30, 2024 and December 31, 2023: June 30, 2024 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value The Safford (5) AZ $ 19,366,284 $ 1,672,241 $ - $ 21,038,525 40rty on Colony - Series P (5) CA 5,963,133 498,774 - 6,461,907 CCBA Senior Garden Apartments (5) CA 3,738,947 14,974 - 3,753,921 Courtyard - Series A (3) CA 9,721,946 463,674 - 10,185,620 Glenview Apartments - Series A (2) CA 4,280,530 168,744 - 4,449,274 Harmony Court Bakersfield - Series A (3) CA 3,544,757 139,578 - 3,684,335 Harmony Terrace - Series A (3) CA 6,563,249 315,187 - 6,878,436 Harden Ranch - Series A (1) CA 6,306,564 279,216 - 6,585,780 Las Palmas II - Series A (3) CA 1,607,892 67,293 - 1,675,185 Lutheran Gardens (6), (7) CA 10,352,000 - ( 37,286 ) 10,314,714 Montclair Apartments - Series A (2) CA 2,319,002 106,080 - 2,425,082 Montecito at Williams Ranch Apartments - Series A (5) CA 7,408,742 506,313 - 7,915,055 Montevista - Series A (5) CA 6,582,792 671,125 - 7,253,917 Ocotillo Springs - Series A (5), (7) CA 3,472,440 - ( 166,594 ) 3,305,846 Ocotillo Springs - Series A-1 (5) CA 497,756 76,732 - 574,488 Residency at Empire - Series BB-1 (5) CA 14,114,724 515,319 - 14,630,043 Residency at Empire - Series BB-2 (5) CA 4,000,000 180,012 - 4,180,012 Residency at Empire - Series BB-3 (5) CA 14,000,000 485,236 - 14,485,236 Residency at Empire - Series BB-4 (5) CA 5,500,000 87,202 - 5,587,202 Residency at the Entrepreneur - Series J-1 (5) CA 9,082,069 - - 9,082,069 Residency at the Entrepreneur - Series J-2 (5) CA 7,500,000 - - 7,500,000 Residency at the Entrepreneur - Series J-3 (5) CA 26,080,000 353,343 - 26,433,343 Residency at the Entrepreneur - Series J-4 (5) CA 3,820,000 - - 3,820,000 Residency at the Entrepreneur - Series J-5 (5) CA 1,000,000 - - 1,000,000 Residency at the Mayer - Series A (5) CA 29,558,156 - - 29,558,156 Residency at the Mayer - Series M (5) CA 11,500,000 - - 11,500,000 San Vicente - Series A (3) CA 3,315,388 138,754 - 3,454,142 Santa Fe Apartments - Series A (2) CA 2,809,384 128,512 - 2,937,896 Seasons at Simi Valley - Series A (3) CA 4,055,003 290,903 - 4,345,906 Seasons Lakewood - Series A (3) CA 6,991,287 335,743 - 7,327,030 Seasons San Juan Capistrano - Series A (3) CA 11,771,045 532,184 - 12,303,229 Solano Vista - Series A (5) CA 2,601,920 228,174 - 2,830,094 Summerhill - Series A (3) CA 6,104,014 156,751 - 6,260,765 Sycamore Walk - Series A (3), (8) CA 3,355,897 - ( 90,471 ) 3,265,426 The Village at Madera - Series A (3) CA 2,931,789 131,674 - 3,063,463 Tyler Park Townhomes - Series A (1) CA 5,490,125 48,868 - 5,538,993 Village at Hanford Square - Series H (5) CA 10,400,000 672,773 - 11,072,773 Vineyard Gardens - Series A (5) CA 3,857,697 305,160 - 4,162,857 Westside Village Market - Series A (1) CA 3,587,787 129,900 - 3,717,687 Handsel Morgan Village Apartments (5) GA 2,150,000 210,988 - 2,360,988 MaryAlice Circle Apartments (5) GA 5,900,000 631,693 - 6,531,693 Copper Gate Apartments (1) IN 4,780,000 - - 4,780,000 Renaissance - Series A (2) LA 10,347,829 714,728 - 11,062,557 Live 929 Apartments - Series 2022A (5) MD 58,447,151 3,120,322 - 61,567,473 Woodington Gardens Apartments - Series A-1 (5) MD 31,150,000 3,329,090 - 34,479,090 Meadow Valley (5), (9) MI 29,633,720 - ( 2,056,854 ) 27,576,866 Jackson Manor Apartments (5), (8) MS 4,803,044 - ( 361,176 ) 4,441,868 Village Point (6), (8) NJ 23,000,000 - ( 475,083 ) 22,524,917 Silver Moon - Series A (2) NM 7,440,266 623,237 - 8,063,503 Village at Avalon (4) NM 15,738,023 1,364,391 - 17,102,414 Columbia Gardens (3) SC 12,252,320 499,675 - 12,751,995 Companion at Thornhill Apartments (3) SC 10,562,925 350,758 - 10,913,683 The Ivy Apartments (5) SC 30,563,203 880,309 - 31,443,512 The Palms at Premier Park Apartments (1) SC 17,733,956 182,998 - 17,916,954 The Park at Sondrio - Series 2022A (5) SC 38,100,000 1,346,314 - 39,446,314 The Park at Vietti - Series 2022A (5) SC 26,985,000 1,018,466 - 28,003,466 Village at River's Edge (3) SC 9,522,422 981,576 - 10,503,998 Willow Run (3) SC 12,082,152 492,032 - 12,574,184 Windsor Shores Apartments - Series A (5) SC 21,545,000 771,092 - 22,316,092 Arbors at Hickory Ridge (1) TN 10,326,690 1,341,180 - 11,667,870 Avistar at Copperfield - Series A (5) TX 13,297,878 492,717 - 13,790,595 Avistar at the Crest - Series A (1) TX 8,692,991 576,349 - 9,269,340 Avistar at the Oaks - Series A (1) TX 7,037,156 401,163 - 7,438,319 Avistar at the Parkway - Series A (2) TX 12,187,414 398,703 - 12,586,117 Avistar at Wilcrest - Series A (5) TX 5,039,627 186,730 - 5,226,357 Avistar at Wood Hollow - Series A (5) TX 38,265,770 1,417,834 - 39,683,604 Avistar in 09 - Series A (1) TX 6,076,307 362,062 - 6,438,369 Avistar on the Boulevard - Series A (1) TX 14,809,456 801,134 - 15,610,590 Avistar on the Hills - Series A (1) TX 4,817,793 274,645 - 5,092,438 Bruton Apartments (3), (8) TX 17,137,029 - ( 25,276 ) 17,111,753 Concord at Gulfgate - Series A (3) TX 18,078,705 1,117,426 - 19,196,131 Concord at Little York - Series A (3) TX 12,664,988 815,278 - 13,480,266 Concord at Williamcrest - Series A (3) TX 19,619,423 1,262,953 - 20,882,376 Crossing at 1415 - Series A (3) TX 7,036,653 284,274 - 7,320,927 Decatur Angle (3), (8) TX 21,531,128 - ( 144,173 ) 21,386,955 Esperanza at Palo Alto (3) TX 18,665,231 1,605,193 - 20,270,424 Heights at 515 - Series A (3) TX 6,442,177 334,677 - 6,776,854 Heritage Square - Series A (2) TX 10,113,831 302,992 - 10,416,823 Oaks at Georgetown - Series A (3) TX 11,728,241 397,942 - 12,126,183 Southpark (5) TX 11,167,919 1,132,081 - 12,300,000 15 West Apartments (3) WA 9,328,583 1,106,537 - 10,435,120 Aventine Apartments (5) WA 9,500,000 1,139,689 - 10,639,689 Mortgage revenue bonds held in trust $ 951,454,320 $ 41,969,667 $ ( 3,356,913 ) $ 990,067,074 (1) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB held by Morgan Stanley in a debt financing transaction, Note 13. (5) MRB held by Mizuho in a debt financing transaction, Note 13. (6) MRB held by Barclays Capital Inc. in a debt financing transaction, Note 13. (7) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for at least 12 months. (8) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for less than 12 months. (9) The Partnership has a remaining MRB funding commitment of approximately $ 14.5 million as of June 30, 2024. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining funding commitment outstanding as of June 30, 2024 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for more than 12 months. June 30, 2024 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value Provision Center 2014-1 TN $ 365,042 $ - $ - $ 365,042 Avistar at the Crest - Series B TX 714,902 26,684 - 741,586 Avistar at the Oaks - Series B TX 523,907 17,985 - 541,892 Avistar at the Parkway - Series B TX 122,441 14,175 - 136,616 Avistar in 09 - Series B TX 432,176 14,836 - 447,012 Avistar on the Boulevard - Series B TX 424,797 13,006 - 437,803 Runnymede TX 9,315,000 - - 9,315,000 Mortgage revenue bonds $ 11,898,265 $ 86,686 $ - $ 11,984,951 December 31, 2023 Description of Mortgage Revenue Bonds Held in Trust State Cost Adjusted for Cumulative Cumulative Estimated Fair Value The Safford (5) AZ $ 7,667,299 $ 2,717,033 $ - $ 10,384,332 40rty on Colony - Series P (5) CA 5,964,008 739,204 - 6,703,212 Courtyard - Series A (3) CA 9,774,107 845,146 - 10,619,253 Glenview Apartments - Series A (2) CA 4,312,025 298,507 - 4,610,532 Harmony Court Bakersfield - Series A (3) CA 3,563,775 275,305 - 3,839,080 Harmony Terrace - Series A (3) CA 6,598,285 573,928 - 7,172,213 Harden Ranch - Series A (1) CA 6,355,567 441,345 - 6,796,912 Las Palmas II - Series A (3) CA 1,616,607 128,930 - 1,745,537 Lutheran Gardens (6), (7) CA 10,352,000 - ( 30,994 ) 10,321,006 Montclair Apartments - Series A (2) CA 2,336,065 170,291 - 2,506,356 Montecito at Williams Ranch Apartments - Series A (5) CA 7,442,435 846,333 - 8,288,768 Montevista - Series A (5) CA 6,607,973 992,675 - 7,600,648 Residency at Empire - Series BB-1 (5) CA 14,117,540 1,004,021 - 15,121,561 Residency at Empire - Series BB-2 (5) CA 4,000,000 320,446 - 4,320,446 Residency at Empire - Series BB-3 (5) CA 5,055,000 575,709 - 5,630,709 Residency at the Entrepreneur - Series J-1 (5) CA 9,085,429 181,504 - 9,266,933 Residency at the Entrepreneur - Series J-2 (5) CA 7,500,000 222,445 - 7,722,445 Residency at the Entrepreneur - Series J-3 (5) CA 12,300,000 697,895 - 12,997,895 Residency at the Mayer - Series A (5) CA 29,560,945 - - 29,560,945 San Vicente - Series A (3) CA 3,333,357 265,848 - 3,599,205 Santa Fe Apartments - Series A (2) CA 2,830,055 206,301 - 3,036,356 Seasons at Simi Valley - Series A (3) CA 4,083,273 443,901 - 4,527,174 Seasons Lakewood - Series A (3) CA 7,028,608 611,358 - 7,639,966 Seasons San Juan Capistrano - Series A (3) CA 11,833,880 992,473 - 12,826,353 Summerhill - Series A (3) CA 6,136,763 381,019 - 6,517,782 Sycamore Walk - Series A (3) CA 3,380,901 226,216 - 3,607,117 The Village at Madera - Series A (3) CA 2,947,519 227,699 - 3,175,218 Tyler Park Townhomes - Series A (1) CA 5,533,307 119,693 - 5,653,000 Village at Hanford Square - Series H (5) CA 10,400,000 1,073,808 - 11,473,808 Vineyard Gardens - Series A (5) CA 3,874,962 461,663 - 4,336,625 Westside Village Market - Series A (1) CA 3,616,007 223,459 - 3,839,466 MaryAlice Circle Apartments (5) GA 5,900,000 880,643 - 6,780,643 Copper Gate Apartments (1), (7) IN 4,780,000 - ( 5 ) 4,779,995 Renaissance - Series A (2) LA 10,429,392 1,221,077 - 11,650,469 Live 929 Apartments - Series 2022A (5) MD 58,333,646 3,275,636 - 61,609,282 Meadow Valley (5), (8) MI 20,863,114 - ( 920,148 ) 19,942,966 Jackson Manor Apartments (5) MS 4,824,474 209,082 - 5,033,556 Village Point (6) NJ 23,000,000 192,788 - 23,192,788 Silver Moon - Series A (2) NM 7,480,455 928,841 - 8,409,296 Village at Avalon (4) NM 15,808,184 1,962,627 - 17,770,811 Columbia Gardens (3) SC 12,351,218 807,633 - 13,158,851 Companion at Thornhill Apartments (3) SC 10,639,506 598,197 - 11,237,703 The Ivy Apartments (5) SC 30,567,832 1,933,208 - 32,501,040 The Palms at Premier Park Apartments (1) SC 17,872,527 427,099 - 18,299,626 The Park at Sondrio - Series 2022A (5) SC 38,100,000 2,682,964 - 40,782,964 The Park at Vietti - Series 2022A (5) SC 26,985,000 1,972,695 - 28,957,695 Village at River's Edge (3) SC 9,566,110 1,000,545 - 10,566,655 Willow Run (3) SC 12,180,025 817,941 - 12,997,966 Windsor Shores Apartments - Series A (5) SC 21,545,000 1,530,085 - 23,075,085 Arbors at Hickory Ridge (1) TN 10,417,646 1,805,985 - 12,223,631 Avistar at Copperfield - Series A (5) TX 13,378,386 983,586 - 14,361,972 Avistar at the Crest - Series A (1) TX 8,762,826 909,437 - 9,672,263 Avistar at the Oaks - Series A (1) TX 7,091,928 666,990 - 7,758,918 Avistar at the Parkway - Series A (2) TX 12,270,653 830,179 - 13,100,832 Avistar at Wilcrest - Series A (5) TX 5,070,137 313,010 - 5,383,147 Avistar at Wood Hollow - Series A (5) TX 38,497,436 2,648,201 - 41,145,637 Avistar in 09 - Series A (1) TX 6,123,600 593,430 - 6,717,030 Avistar on the Boulevard - Series A (1) TX 14,928,425 1,346,449 - 16,274,874 Avistar on the Hills - Series A (1) TX 4,855,291 470,520 - 5,325,811 Bruton Apartments (3), (7) TX 17,220,941 - ( 13,366 ) 17,207,575 Concord at Gulfgate - Series A (3) TX 18,190,721 1,807,038 - 19,997,759 Concord at Little York - Series A (3) TX 12,743,460 1,302,221 - 14,045,681 Concord at Williamcrest - Series A (3) TX 19,740,985 2,017,280 - 21,758,265 Crossing at 1415 - Series A (3) TX 7,082,698 565,843 - 7,648,541 Decatur Angle (3), (7) TX 21,646,255 - ( 16,674 ) 21,629,581 Esperanza at Palo Alto (3) TX 18,751,278 2,480,537 - 21,231,815 Heights at 515 - Series A (3) TX 6,484,332 602,199 - 7,086,531 Heritage Square - Series A (2) TX 10,186,405 606,579 - 10,792,984 Oaks at Georgetown - Series A (3) TX 11,790,848 838,472 - 12,629,320 15 West Apartments (3) WA 9,371,808 1,478,567 - 10,850,375 Mortgage revenue bonds held in trust $ 825,040,234 $ 58,971,739 $ ( 981,187 ) $ 883,030,786 (1) MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (2) MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (3) MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. (4) MRB held by Morgan Stanley in a debt financing transaction, Note 13. (5) MRB held by Mizuho in a debt financing transaction, Note 13. (6) MRB held by Barclays Capital Inc. in a debt financing transaction, Note 13. (7) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for less than 12 months. (8) The Partnership has a remaining MRB funding commitment of approximately $ 23.2 million as of December 31, 2023. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining funding commitment outstanding as of December 31, 2023 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for more than 12 months. December 31, 2023 Description of Mortgage Revenue Bonds held by the Partnership State Cost Adjusted for Cumulative Cumulative Estimated Fair Value CCBA Senior Garden Apartments CA $ 3,757,268 $ 158,840 $ - $ 3,916,108 Ocotillo Springs - Series A (1) CA 3,489,096 - ( 59,805 ) 3,429,291 Ocotillo Springs - Series A-1 CA 499,117 95,386 - 594,503 Residency at the Entrepreneur - Series J-5 CA 1,000,000 - - 1,000,000 Solano Vista - Series A CA 2,611,955 338,125 - 2,950,080 Handsel Morgan Village Apartments GA 2,150,000 300,188 - 2,450,188 Brookstone IL 7,229,475 1,071,177 - 8,300,652 Provision Center 2014-1 TN 926,475 - - 926,475 Avistar at the Crest - Series B TX 718,332 49,845 - 768,177 Avistar at the Oaks - Series B TX 526,318 35,066 - 561,384 Avistar at the Parkway - Series B TX 122,701 19,352 - 142,053 Avistar in 09 - Series B TX 434,165 28,926 - 463,091 Avistar on the Boulevard - Series B TX 426,835 27,507 - 454,342 Runnymede (2) TX 9,390,000 - ( 1,121 ) 9,388,879 Southpark TX 11,133,003 1,166,283 - 12,299,286 Mortgage revenue bonds $ 44,414,740 $ 3,290,695 $ ( 60,926 ) $ 47,644,509 (1) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for more than 12 months. (2) As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for less than 12 months.
Schedule of MRB Acquisitions	The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the six months ended June 30, 2024: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Residency at the Mayer - Series M (1) March 2024 Hollywood, CA 79 4/1/2039 SOFR + 3.60 % (2) $ 11,500,000 Woodington Gardens Apartments - Series A-1 April 2024 Baltimore, MD 197 5/1/2029 7.80 % 31,150,000 Aventine Apartments May 2024 Bellevue, WA 68 6/1/2031 7.68 % 9,500,000 $ 52,150,000 (1) The borrower re-allocated $ 11.5 million of previously provided funding from a taxable MRB to this new MRB during the acquisition and rehabilitation phase of the property. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 5.0 million. (2) The interest rate is subject to an all-in floor of 3.85 %. Upon stabilization of the property, the interest rate will reset to a fixed rate based on the SOFR index plus 3.50 % on or around the stabilization date. The following MRBs were acquired at prices that approximated the principal outstanding plus accrued interest during the six months ended June 30, 2023: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funded Windsor Shores Apartments - Series A January 2023 Columbia, SC 176 2/1/2030 6.50 % $ 21,545,000 The Ivy Apartments January 2023 Greenville, SC 212 2/1/2030 6.50 % 30,500,000 Residency at the Entrepreneur - Series J-5 (1) February 2023 Los Angeles, CA 200 4/1/2025 SOFR + 3.60 % (2) 1,000,000 Handsel Morgan Village Apartments April 2023 Buford, GA 45 3/1/2041 6.75 % 2,150,000 MaryAlice Circle Apartments April 2023 Buford, GA 98 3/1/2041 6.75 % 5,900,000 Village at Hanford Square - Series H May 2023 Hanford, CA 100 5/1/2030 6.65 % 10,400,000 Village Point May 2023 Monroe Township, NJ 120 (3) 6/1/2030 6.88 % 23,000,000 40rty on Colony - Series P June 2023 La Mesa, CA 40 6/1/2030 7.05 % 5,950,000 $ 100,445,000 (1) The Partnership has committed to provide funding for the Series J-5 MRB totaling $ 5.0 million. See Note 16. (2) The interest rate is subject to an all-in floor of 3.87 %. (3) Village Point is a seniors housing property with 120 beds in 92 units.
Schedule of MRB Sales	The following MRB was sold at a price that approximated the Partnership’s carrying value plus accrued interest during the six months ended June 30, 2024: Property Name Month Property Location Units Original Interest Rate Principal Brookstone May 2024 Waukegan, IL 168 5/1/2040 5.45 % $ 8,221,234 The Partnership realized a gain on sale of the Brookstone MRB of approximately $ 1.0 million related to collection of an unamortized discount upon sale. The following MRBs were redeemed at a price that approximated the Partnership’s carrying value plus accrued interest during the six months ended June 30, 2023: Property Name Month Property Location Units Original Interest Rate Principal Greens Property - Series A February 2023 Durham, NC 168 10/1/2047 6.50 % $ 7,579,000 Greens Property - Series B February 2023 Durham, NC 168 10/1/2047 12.00 % 914,040 $ 8,493,040

Governmental Issuer Loans (Tabl

Governmental Issuer Loans (Tables)	6 Months Ended
	Jun. 30, 2024
Governmental Issuer Loans [Abstract]
Summary of Partnership's GIL Investments	The Partnership had the following GIL investments as of June 30, 2024 and December 31, 2023: As of June 30, 2024 Property Name Month Property Units Maturity (1) Interest Rate (2) Current Interest Amortized Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 8/1/2024 SOFR + 3.07 % 8.41 % $ 34,620,000 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 8.40 % 60,000,000 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 8.63 % 25,000,000 Willow Place Apartments Supplemental November 2023 McDonough, GA n/a 10/1/2024 SOFR + 3.45 % 8.78 % 1,500,000 Magnolia Heights (3) June 2022 Covington, GA 200 10/1/2024 SOFR + 3.85 % 9.18 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 27,846,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 12,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 20,550,000 Sandy Creek Apartments (3) August 2023 Bryan, TX 140 9/1/2026 7.83 % (5) 7.83 % 12,100,000 1,539 $ 214,557,300 (1) The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0.25 % to 0.50 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. (5) The interest rate will convert to a variable rate of Term SOFR + 2.80 % on February 1, 2025. As of December 31, 2023 Property Name Month Property Units Maturity (1) Interest (2) Current Interest Amortized Legacy Commons at Signal Hills (3) January 2021 St. Paul, MN 247 2/1/2024 SOFR + 3.07 % 8.46 % $ 34,620,000 Hope on Avalon January 2021 Los Angeles, CA 88 2/1/2024 SIFMA + 3.75 % 7.62 % 23,390,000 Osprey Village (3) July 2021 Kissimmee, FL 383 8/1/2024 SOFR + 3.07 % 8.38 % 60,000,000 Willow Place Apartments (3) September 2021 McDonough, GA 182 10/1/2024 SOFR + 3.30 % 8.61 % 25,000,000 Willow Place Apartments Supplemental November 2023 McDonough, GA n/a 10/1/2024 SOFR + 3.45 % 8.76 % 1,500,000 Magnolia Heights (3) June 2022 Covington, GA 200 7/1/2024 SOFR + 3.85 % 9.16 % 20,400,000 Poppy Grove I (3), (4) September 2022 Elk Grove, CA 147 4/1/2025 6.78 % 6.78 % 19,846,000 Poppy Grove II (3), (4) September 2022 Elk Grove, CA 82 4/1/2025 6.78 % 6.78 % 9,541,300 Poppy Grove III (3), (4) September 2022 Elk Grove, CA 158 4/1/2025 6.78 % 6.78 % 16,550,000 Sandy Creek Apartments (3) August 2023 Bryan, TX 140 9/1/2026 7.83 % (5) 7.83 % 12,100,000 1,627 $ 222,947,300 (1) The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (2) The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. (3) The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19). (4) The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. (5) The interest rate will convert to a variable rate of Term SOFR + 2.80 % on February 1, 2025.
Schedule of Principal and Accrued Interest Paid	During the six months ended June 30, 2024, the following GIL was purchased by Freddie Mac through a servicer and all principal and accrued interest amounts due were paid in full: Property Name Month Principal Proceeds Hope on Avalon January 2024 $ 23,390,000

Property Loans (Tables)

Property Loans (Tables)	6 Months Ended
	Jun. 30, 2024
Property Loans Net Of Loan Loss Allowance [Abstract]
Summary of Partnership's Property Loans, Net of Allowances for Credit Losses	The following tables summarize the Partnership’s property loans, net of asset-specific allowances for credit losses, as of June 30, 2024 and December 31, 2023: June 30, 2024 Outstanding Asset-Specific Allowance for Credit Losses Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Magnolia Heights $ 8,118,546 $ - $ 8,118,546 10/1/2024 SOFR + 3.85 % Sandy Creek Apartments 6,787,992 - 6,787,992 9/1/2026 8.63 % (2) Subtotal 14,906,538 - 14,906,538 Mezzanine Financing SoLa Impact Opportunity Zone Fund (3) $ 33,545,000 $ - $ 33,545,000 12/30/2024 7.875 % The Centurion Foundation 7,250,000 - 7,250,000 6/15/2039 10.50 % Subtotal 40,795,000 - 40,795,000 Other The 50/50 MF Property $ 7,109,611 $ - $ 7,109,611 3/11/2048 9.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 7,604,611 ( 495,000 ) 7,109,611 Total $ 63,306,149 $ ( 495,000 ) $ 62,811,149 (1) The property loans are held in trust in connection with TOB trust financings (Note 13). 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. (2) The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. (3) The property loan is held in trust in connection with a TOB trust financing (Note 13). December 31, 2023 Outstanding Asset-Specific Allowance for Credit Losses Property Loan Principal, Maturity Date Interest Rate Senior Construction Financing (1) Legacy Commons at Signal Hills $ 32,233,972 $ - $ 32,233,972 2/1/2024 SOFR + 3.07 % Magnolia Heights 8,118,546 - 8,118,546 7/1/2024 SOFR + 3.85 % Osprey Village 14,998,296 - 14,998,296 8/1/2024 SOFR + 3.07 % Osprey Village Supplemental 4,600,000 - 4,600,000 8/1/2024 SOFR + 3.22 % Sandy Creek Apartments 2,419,876 - 2,419,876 9/1/2026 8.63 % (2) Willow Place Apartments 18,875,606 - 18,875,606 10/1/2024 SOFR + 3.30 % Willow Place Apartments Supplemental 339,000 - 339,000 10/1/2024 SOFR + 3.45 % Subtotal 81,585,296 - 81,585,296 Mezzanine Financing (3) SoLa Impact Opportunity Zone Fund $ 34,045,000 $ - $ 34,045,000 12/30/2024 7.875 % Other The 50/50 MF Property $ 5,977,314 $ - $ 5,977,314 3/11/2048 9.00 % Avistar (February 2013 portfolio) 201,972 - 201,972 6/26/2024 12.00 % Avistar (June 2013 portfolio) 251,622 - 251,622 6/26/2024 12.00 % Live 929 Apartments 495,000 ( 495,000 ) - 7/31/2049 8.00 % Subtotal 6,925,908 ( 495,000 ) 6,430,908 Total $ 122,556,204 $ ( 495,000 ) $ 122,061,204 (1) The property loans are held in trust in connection with TOB trust financings (Note 13) with the exception of the Osprey Village Supplemental and Willow Place Apartments Supplemental property loans. 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 %. (2) The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. (3) The property loan is held in trust in connection with a TOB trust financing (Note 13).
Schedule of Property Loans Paid Down or Redeemed	The following property loan principal payments were received during the six months ended June 30, 2024: Property Name Month Principal Proceeds Legacy Commons at Signal Hills February 2024 $ 32,233,972 Osprey Village February 2024 14,998,296 Osprey Village Supplemental February 2024 4,600,000 Willow Place Apartments February 2024 18,875,606 Willow Place Apartments Supplemental February 2024 1,115,320 SoLa Impact Opportunity Zone Fund March 2024 500,000 Avistar (February 2013 portfolio) May 2024 201,972 Avistar (June 2013 portfolio) May 2024 251,622 $ 72,776,788 In June 2024, the Partnership recognized a fee of approximately $ 20,000 in other income in connection with an extension of the maturity date of the Magnolia Heights property loan to October 1, 2024. The following property loan principal payments were received during the six months ended June 30, 2023: Property Name Month Principal Greens Property February 2023 $ 850,000 Scharbauer Flats February 2023 10,773,236 Centennial Crossings March 2023 6,692,344 SoLa Impact Opportunity Zone Fund May 2023 3,790,000 Magnolia Heights June 2023 2,181,454 Oasis at Twin Lakes June 2023 24,018,657 $ 48,305,691

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023: Property Name Location Units Construction Commencement Date Construction Completion Date Carrying Value as of June 30, 2024 Carrying Value as of December 31, 2023 Current Investments Vantage at Tomball Tomball, TX 288 August 2020 April 2022 $ 14,199,870 13,235,090 Vantage at Hutto Hutto, TX 288 December 2021 December 2023 14,573,715 13,908,660 Vantage at Loveland Loveland, CO 288 April 2021 N/A 23,954,586 20,464,906 Vantage at Helotes Helotes, TX 288 May 2021 November 2022 15,090,681 15,090,681 Vantage at Fair Oaks Boerne, TX 288 September 2021 May 2023 13,535,176 12,996,316 Vantage at McKinney Falls McKinney Falls, TX 288 December 2021 N/A 15,024,657 13,131,272 Freestone Greeley Greeley, CO 296 N/A N/A 6,143,765 5,346,007 Freestone Cresta Bella San Antonio, TX 296 February 2023 N/A 18,003,283 17,325,494 Valage Senior Living Carson Valley Minden, NV 102 (1) February 2023 N/A 8,839,675 8,608,322 The Jessam at Hays Farm Huntsville, AL 318 July 2023 N/A 17,090,224 7,518,717 Freestone Greenville Greenville, TX 300 April 2024 N/A 7,680,571 5,366,551 Freestone Ladera Ladera, TX 288 N/A N/A 3,804,461 3,661,230 $ 157,940,664 $ 136,653,246 (1) Valage Senior Living Carson Valley is a seniors housing property with 102 beds in 88 units.
Summary of Sales Information of Partnership Investment in Unconsolidated Entities	The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the six months ended June 30, 2024: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain (loss) Vantage at Coventry Omaha, NE 294 (1) $ 50,000 $ - $ 50,000 Vantage at Westover Hills San Antonio, TX 288 (2) 6,986 - 6,986 $ 56,986 $ - $ 56,986 (1) In January 2024, the Partnership received sales proceeds of approximately $ 50,000 associated with final settlements of the Vantage at Coventry sale in January 2023. The Partnership recognized the amount in “Gain on sale of investment in an unconsolidated entity” on the Partnership’s condensed consolidated statement of operations. (2) In May 2024, the Partnership received sales proceeds of approximately $ 7,000 associated with final settlements of the Vantage at Westover Hills sale in May 2022. The Partnership recognized the amount in “Gain on sale of investment in an unconsolidated entity” on the Partnership’s condensed consolidated statement of operations. The following table summarizes sales information of the Partnership’s investments in unconsolidated entities during the six months ended June 30, 2023: Property Name Location Units Month Sold Gross Proceeds to the Partnership Investment Income Gain on Sale Vantage at Stone Creek Omaha, NE 294 January 2023 $ 14,689,244 $ 108,295 $ 9,114,980 Vantage at Coventry Omaha, NE 294 January 2023 13,220,218 135,501 6,258,133 Vantage at Murfreesboro Murfreesboro, TN 288 (1) ( 6,184 ) - ( 6,184 ) Vantage at O'Connor San Antonio, TX 288 (2) ( 11,744 ) - ( 11,744 ) Vantage at Conroe Conroe, TX 288 June 2023 19,828,060 2,065,608 7,337,828 $ 47,719,594 $ 2,309,404 $ 22,693,013 (1) In February 2023, the Partnership returned sales proceeds of approximately $ 6,200 associated with final settlements of the Vantage at Murfreesboro sale in March 2022. The Partnership recognized the amount in "Gain on sale of investment in an unconsolidated entity" on the Partnership’s condensed consolidated statements of operations. (2) In May 2023, the Partnership returned sales proceeds of approximately $ 12,000 associated with final settlements of the Vantage at O'Connor sale in July 2022. The Partnership recognized the amount in "Gain on sale of investment in an unconsolidated entity" on the Partnership's condensed consolidated statements of operations.
Summary of Partnership's Investments in Unconsolidated Entities	The following table provides summary combined financial information for the properties underlying the Partnership’s investments in unconsolidated entities for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Property revenues $ 4,411,360 $ 3,272,517 $ 8,196,677 $ 7,021,960 Gain on sale of property $ - $ 17,995,170 $ - $ 56,099,503 Net income (loss) $ ( 3,025,880 ) $ 16,950,286 $ ( 4,150,053 ) $ 54,693,224

Real Estate Assets (Tables)

Real Estate Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Real Estate [Abstract]
Real Estate Assets Owned by Partnership	The following tables summarize information regarding the Partnership’s real estate assets as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Property Name Location Number Land and Land Buildings and Carrying Value Land and Land Buildings and Carrying Value Vantage at San Marcos San Marcos, TX (1) 2,660,615 946,043 3,606,658 2,660,615 946,043 3,606,658 Land held for development (2) 1,109,482 - 1,109,482 1,109,482 - 1,109,482 $ 4,716,140 $ 4,716,140 Less accumulated depreciation - - Real estate assets, net $ 4,716,140 $ 4,716,140 (1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 3 for further information. (2) Land held for development consists of land and development costs for a parcel of land in Richland County, SC.
Schedule Of Partnership Sold Net Income Related to Mf Property	In December 2023, the Partnership sold the Suites on Paseo MF Property. Net income, exclusive of the gains on sale, related to the Suites on Paseo MF Property for the three and six months ended June 30, 2024, and 2023 was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net income $ - $ 98,276 $ - $ 327,188

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Other Assets [Abstract]
Schedule of Other Assets	The following table summarizes the Partnership ’ s other assets as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Deferred financing costs, net $ 1,044,672 $ 850,726 Derivative instruments at fair value (Note 15) 9,679,247 5,254,663 Taxable mortgage revenue bonds, at fair value 15,926,321 21,460,288 Taxable governmental issuer loans: Taxable governmental issuer loans 3,000,000 13,573,000 Allowance for credit losses (Note 10) ( 36,000 ) ( 77,000 ) Taxable governmental issuer loans, net 2,964,000 13,496,000 Bond purchase commitment, at fair value (Note 16) 46,238 197,788 Other assets 1,377,476 1,935,005 Total other assets $ 31,037,954 $ 43,194,470
Summary of Taxable MRB and GIL Acquired	Activity in the First Six Months of 2024 The following table includes details of the taxable MRB acquired during the six months ended June 30, 2024: Property Name Month Property Location Units Maturity Date Interest Rate Initial Principal Funding Woodington Gardens Apartments - Series A-2 April 2024 Baltimore, MD 197 5/1/2029 7.80 % $ 2,577,000 The following taxable MRB and taxable GIL principal payments were received during the six months ended June 30, 2024: Property Name Month Property Location Units Original Interest Rate Principal Taxable MRBs Residency at the Mayer Series A-T (1) March 2024 Hollywood, CA 79 10/1/2024 SOFR + 3.70 % (2) $ 11,500,000 Taxable GILs Hope on Avalon January 2024 Los Angeles, CA 88 2/1/2024 SOFR + 3.55 % $ 10,573,000 Total $ 22,073,000 (1) The borrower re-allocated $ 11.5 million of previously provided funding from a taxable MRB to a new MRB during the acquisition and rehabilitation phase of the property. (2) The interest rate is subject to an all-in floor of 3.95 %. Activity in the First Six Months of 2023 The following table includes details of the taxable MRBs acquired during the six months ended June 30, 2023: Property Name Date Committed Maturity Date Initial Principal Funding Total Commitment Windsor Shores Apartments - Series B January 2023 2/1/2030 $ 805,000 $ 805,000 Village at Hanford Square - Series H-T May 2023 5/1/2030 1,000,000 10,400,000 40rty on Colony - Series P-T June 2023 6/1/2030 1,100,000 5,950,000 Subtotal $ 17,155,000

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]
Summary of Changes in Partnership's Allowance for Credit Losses	The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and six months ended June 30, 2024: For the Three Months Ended June 30, 2024 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period $ 1,166,000 $ 41,000 $ 1,628,000 $ 456,000 $ 3,291,000 Current provision for credit losses ( 55,000 ) ( 5,000 ) 320,000 ( 71,000 ) 189,000 Balance, end of period $ 1,111,000 $ 36,000 $ 1,948,000 $ 385,000 $ 3,480,000 For the Six Months Ended June 30, 2024 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period $ 1,294,000 $ 77,000 2,048,000 $ 678,000 $ 4,097,000 Current provision for credit losses ( 183,000 ) ( 41,000 ) ( 100,000 ) ( 293,000 ) ( 617,000 ) Balance, end of period $ 1,111,000 $ 36,000 $ 1,948,000 $ 385,000 $ 3,480,000 The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and six months ended June 30, 2023: For the Three Months ended June 30, 2023 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period 2,080,000 89,000 $ 2,450,000 1,280,000 5,899,000 Current provision for credit losses ( 243,000 ) 6,000 ( 215,000 ) ( 322,000 ) ( 774,000 ) Balance, end of period $ 1,837,000 $ 95,000 $ 2,235,000 $ 958,000 $ 5,125,000 For the Six Months Ended June 30, 2023 Governmental Issuer Loans Taxable Governmental Issuer Loans Property Loans Unfunded Commitments Total Balance, beginning of period $ - $ - $ 495,000 $ - $ 495,000 Cumulative-effect adjustment upon adoption 2,145,000 79,000 2,108,000 1,617,000 5,949,000 Current provision for credit losses ( 308,000 ) 16,000 ( 368,000 ) ( 659,000 ) ( 1,319,000 ) Balance, end of period $ 1,837,000 $ 95,000 $ 2,235,000 $ 958,000 $ 5,125,000
Summary of Partnerships Carrying Value by Acquisition Year Grouped by Risk Rating	The following tables summarize the Partnership’s carrying value by acquisition year, grouped by risk rating as of June 30, 2024 and December 31, 2023: June 30, 2024 2024 2023 2022 2021 2020 Prior Total Governmental Issuer Loans Performing $ - $ 13,600,000 $ 81,337,300 $ 119,620,000 $ - $ - $ 214,557,300 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - 13,600,000 81,337,300 119,620,000 - - 214,557,300 Taxable Governmental Issuer Loans Performing $ - $ - $ 3,000,000 $ - $ - $ - $ 3,000,000 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - - 3,000,000 - - - 3,000,000 Property Loans Performing $ 7,250,000 $ 6,787,992 $ 48,773,157 $ - $ - $ - $ 62,811,149 Watch - - - - - - - Nonperforming - - - - - 495,000 495,000 Subtotal 7,250,000 6,787,992 48,773,157 - - 495,000 63,306,149 Unfunded Commitments Performing $ - $ 1,042,008 $ 89,700,000 $ - $ - $ - $ 90,742,008 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - 1,042,008 89,700,000 - - - 90,742,008 Total $ 7,250,000 $ 21,430,000 $ 222,810,457 $ 119,620,000 $ - $ 495,000 $ 371,605,457 December 31, 2023 2023 2022 2021 2020 2019 Prior Total Governmental Issuer Loans Performing $ 13,600,000 $ 66,337,300 $ 143,010,000 $ - $ - $ - $ 222,947,300 Watch - - - - - - - Nonperforming - - - - - - - Subtotal 13,600,000 66,337,300 143,010,000 - - - 222,947,300 Taxable Governmental Issuer Loans Performing $ - $ 3,000,000 $ 10,573,000 $ - $ - $ - $ 13,573,000 Watch - - - - - - - Nonperforming - - - - - - - Subtotal - 3,000,000 10,573,000 - - - 13,573,000 Property Loans Performing $ 7,358,876 $ 48,140,860 $ 66,107,874 $ - - $ 453,594 $ 122,061,204 Watch - - - - - - - Nonperforming - - - - $ 495,000 - 495,000 Subtotal 7,358,876 48,140,860 66,107,874 - 495,000 453,594 122,556,204 Unfunded Commitments Performing $ 6,909,378 $ 104,700,000 $ 12,977,426 $ - $ - $ - $ 124,586,804 Watch - - - - - - - Nonperforming - - - - - - - Subtotal 6,909,378 104,700,000 12,977,426 - - - 124,586,804 Total $ 27,868,254 $ 222,178,160 $ 232,668,300 $ - $ 495,000 $ 453,594 $ 483,663,308
MRB and taxable MRB investments [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Summary of Changes in Partnership's Allowance for Credit Losses	The following table summarizes the changes in the Partnership’s allowance for credit losses for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Balance, beginning of period $ 9,892,924 $ 9,961,924 $ 9,910,079 $ 9,978,891 Current provision for credit loss (1) ( 169,308 ) - ( 169,308 ) - Write-offs (1) ( 5,542,921 ) - ( 5,542,921 ) - Recovery of prior credit loss (2) ( 17,345 ) ( 17,345 ) ( 34,500 ) ( 34,312 ) Balance, end of period (3) $ 4,163,350 $ 9,944,579 $ 4,163,350 $ 9,944,579 (1) In connection with the final settlement of the bankruptcy estate of the Provision Center 2014-1 MRB in July 2024, the Partnership recovered approximately $ 169,000 of its previously recognized allowance for credit loss and the remainder of the allowance associated with the MRB was written off. (2) The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. As the recovery was identified prior to the effective date of the CECL standard, the Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. (3) The allowance for credit losses as of June 30, 2024 was related to the Live 929 Apartments – 2022A MRB. The allowance for credit losses as of June 30, 2023 was related to the Provision Center 2014-1 MRB and the Live 929 Apartments – 2022A MRB

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Summary of Accounts Payable, Accrued Expenses and Other Liabilities	The following table summarizes the Partnership’s accounts payable, accrued expenses and other liabilities as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Accounts payable $ 1,053,755 $ 1,518,267 Accrued expenses 3,757,255 4,104,945 Accrued interest expense 7,700,825 7,935,327 Deferred gain on sale of MF Property 6,596,622 6,596,622 Reserve for credit losses on unfunded commitments (Note 10) 385,000 678,000 Derivative instruments at fair value (Note 15) 418,075 705,694 Other liabilities 1,303,703 1,419,233 Total accounts payable, accrued expenses and other liabilities $ 21,215,235 $ 22,958,088

Secured Line of Credit (Tables)

Secured Line of Credit (Tables)	6 Months Ended
	Jun. 30, 2024
Secured Line Of Credit Facility [Member]
Line of Credit Facility [Line Items]
Summary of Lines of Credit	The following tables summarize the Partnership ’s LOCs as of June 30, 2024 and December 31, 2023: Secured Lines of Credit Outstanding as of June 30, 2024 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 26,500,000 $ 50,000,000 June 2025 (1) Variable (2) Monthly 8.83 % Bankers Trust Acquisition LOC 14,750,000 50,000,000 June 2025 (3) Variable (4) Monthly 7.83 % $ 41,250,000 $ 100,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to SOFR + 3.50 %, subject to an all-in floor of 3.75 %. (3) The Partnership has a one-year extension option subject to certain conditions and payment of a $ 25,000 extension fee. (4) The variable rate is equal to 2.50 % plus a variable component based on the Term SOFR. Secured Lines of Credit Outstanding as of December 31, 2023 Total Commitment Commitment Maturity Variable / Reset Period End BankUnited General LOC $ 16,500,000 $ 40,000,000 June 2025 (1) Variable (2) Monthly 8.85 % Bankers Trust Acquisition LOC 16,900,000 50,000,000 June 2024 (3) Variable (4) Monthly 7.85 % $ 33,400,000 $ 90,000,000 (1) The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. (2) The variable rate is equal to SOFR + 3.50 %, subject to an all-in floor of 3.75 %. (3) The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee for each extension. (4) The variable rate is equal to 2.50 % plus a variable component based on the Term SOFR.

Debt Financing (Tables)

Debt Financing (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Financing [Abstract]
Schedule of Total Debt Financing	The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of June 30, 2024 and December 31, 2023: Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 65,947,462 $ 4,999 2024 Variable Yes 3.91 % 1.35 % 5.26 % M33 TEBS 28,518,298 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS 208,646,796 5,000 2034 Fixed Yes N/A N/A 4.39 % Subtotal/Weighed Average Period End Rate 303,112,556 4.47 % TEBS Residual Financing $ 60,282,673 $ 18,000 2034 Fixed Yes N/A N/A 7.16 % TOB Trust Securitizations Mizuho Capital Markets: Southpark MRB 9,836,063 (4) 2024 Variable Yes 4.20 % 1.44 % 5.64 % SoLa Impact Opportunity Zone Fund 23,433,061 (4) 2024 Variable No 5.59 % 1.78 % 7.37 % Montevista - Series A 5,596,181 (4) 2025 Variable Yes 4.20 % 1.28 % 5.48 % The Park at Sondrio - Series 2022A 30,418,077 (4) 2025 Variable Yes 4.20 % 1.43 % 5.63 % The Park at Vietti - Series 2022A 21,539,334 (4) 2025 Variable Yes 4.20 % 1.43 % 5.63 % Residency at the Entrepreneur MRBs 34,060,000 (4) 2025 Variable Yes 4.20 % 1.45 % 5.65 % Legacy Commons at Signal Hills GIL 31,155,000 (4) 2025 Variable Yes 4.20 % 0.91 % 5.11 % Osprey Village GIL 49,475,000 (4) 2025 Variable Yes 4.20 % 1.19 % 5.39 % Residency at the Mayer Taxable MRB 824,656 (4) 2025 Variable No 5.59 % 1.17 % 6.76 % Residency at Empire MRBs 29,847,760 (4) 2026 Variable Yes 4.20 % 1.42 % 5.62 % The Ivy Apartments 24,347,506 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Windsor Shores Apartments 17,196,987 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Village at Hanford Square 7,768,683 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % MaryAlice Circle Apartments 4,690,419 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Meadow Valley 22,039,174 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % 40rty on Colony 4,445,678 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Sandy Creek Apartments GIL 9,628,693 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Residency at the Mayer MRBs 33,803,106 (4) 2026 Variable Yes 4.20 % 1.19 % 5.39 % The Safford 15,286,911 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Avistar at Wood Hollow - Series A 32,463,660 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Live 929 53,092,000 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Jackson Manor Apartments 4,100,000 (4) 2027 Variable Yes 4.20 % 1.29 % 5.49 % Woodington Gardens - Series A-1 24,824,240 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Aventine Apartments 7,551,963 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Montecito at Williams Ranch - Series A 6,783,767 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Vineyard Gardens - Series A 3,594,028 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Avistar at Copperfield - Series A 11,304,585 (4) 2027 Variable Yes 4.20 % 1.68 % 5.88 % Avistar at Wilcrest - Series A 4,280,584 (4) 2027 Variable Yes 4.20 % 1.68 % 5.88 % Trust 2024-XF3219 (5) 31,294,815 (4) 2027 Variable No 5.59 % 1.79 % 7.38 % Barclays Capital Inc.: Trust 2021-XF2953 (6) 54,628,333 - 2025 Variable No 5.47 % 1.27 % 6.74 % Poppy Grove I GIL 22,274,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Poppy Grove II GIL 10,030,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Poppy Grove III GIL 16,437,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Village Point 18,389,543 - 2025 Variable Yes 5.10 % 1.61 % 6.71 % Subtotal/Weighed Average Period End Rate 676,441,644 5.87 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,689,225 - 2025 Fixed Yes N/A N/A 6.33 % Total Debt Financings $ 1,052,526,098 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. (4) The Partnership has restricted cash totaling approximately $ 16.8 million related to its total net position with Mizuho. (5) The TOB trust is securitized by seven MRBs, nine taxable MRBs, and one property loan. (6) The TOB trust is securitized by the Willow Place GIL & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 66,621,825 $ 4,999 2024 Variable Yes 3.90 % 1.31 % 5.21 % M33 TEBS 28,870,624 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS 209,769,942 5,000 2034 Fixed Yes N/A N/A 4.39 % Subtotal/Weighed Average Period End Rate 305,262,391 4.46 % TEBS Residual Financing $ 60,322,317 $ - 2034 Fixed Yes N/A N/A 7.16 % TOB Trust Securitizations Mizuho Capital Markets: Hope on Avalon GIL 18,711,665 (4) 2024 Variable Yes 4.24 % 1.44 % 5.68 % Jackson Manor Apartments 4,100,000 (4) 2024 Variable Yes 4.24 % 1.29 % 5.53 % Trust 2021-XF2926 (5) 38,496,952 (4) 2024 Variable No 5.59 % 0.90 % 6.49 % SoLa Impact Opportunity Zone Fund 23,741,122 (4) 2024 Variable No 5.59 % 1.78 % 7.37 % Montevista - Series A 5,618,833 (4) 2025 Variable Yes 4.24 % 1.28 % 5.52 % Montecito at Williams Ranch - Series A 6,813,244 (4) 2025 Variable Yes 4.24 % 1.18 % 5.42 % Vineyard Gardens - Series A 3,593,615 (4) 2025 Variable Yes 4.24 % 1.18 % 5.42 % The Park at Sondrio - Series 2022A 30,396,222 (4) 2025 Variable Yes 4.24 % 1.43 % 5.67 % The Park at Vietti - Series 2022A 21,522,158 (4) 2025 Variable Yes 4.24 % 1.43 % 5.67 % Avistar at Copperfield - Series A 11,370,985 (4) 2025 Variable Yes 4.24 % 1.68 % 5.92 % Avistar at Wilcrest - Series A 4,303,984 (4) 2025 Variable Yes 4.24 % 1.68 % 5.92 % Residency at the Entrepreneur MRBs 23,040,000 (4) 2025 Variable Yes 4.24 % 1.45 % 5.69 % Legacy Commons at Signal Hills GIL 31,155,000 (4) 2025 Variable Yes 4.24 % 0.91 % 5.15 % Osprey Village GIL 49,475,000 (4) 2025 Variable Yes 4.24 % 1.19 % 5.43 % Trust 2021-XF2939 (6) 21,821,644 (4) 2025 Variable No 5.59 % 1.17 % 6.76 % Residency at Empire MRBs 18,267,048 (4) 2026 Variable Yes 4.24 % 1.42 % 5.66 % The Ivy Apartments 24,330,930 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Windsor Shores Apartments 17,183,983 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Village at Hanford Square 7,760,141 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % MaryAlice Circle Apartments 4,682,351 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Meadow Valley 15,438,915 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % 40rty on Colony 4,440,847 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Sandy Creek Apartments GIL 9,616,853 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Residency at the Mayer - Series A 24,335,000 (4) 2026 Variable Yes 4.24 % 1.19 % 5.43 % The Safford 5,911,780 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Avistar at Wood Hollow - Series A 32,673,300 (4) 2027 Variable Yes 4.24 % 1.44 % 5.68 % Live 929 53,092,000 (4) 2027 Variable Yes 4.24 % 1.18 % 5.42 % Barclays Capital Inc.: Trust 2021-XF2953 (7) 69,694,599 - 2024 Variable No 5.48 % 1.27 % 6.75 % Poppy Grove I GIL 15,872,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Poppy Grove II GIL 7,628,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Poppy Grove III GIL 13,235,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Village Point 18,381,720 - 2024 Variable Yes 4.43 % 1.61 % 6.04 % Subtotal/Weighed Average Period End Rate 636,705,380 5.87 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,739,978 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 1,015,030,066 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. (4) The Partnership has restricted cash totaling approximately $ 9.6 million related to its total net position with Mizuho. (5) The TOB trust is securitized by the Legacy Commons at Signal Hills property loan and the Hope on Avalon taxable GIL. (6) The TOB trust is securitized by the Residency at the Mayer taxable MRB and Osprey Village property loan. (7) The TOB trust is securitized by the Willow Place GIL, property loan & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL.
Summary of TOB Trust Financings	The following is a summary of the new TOB trust financings that were entered into during the six months ended June 30, 2024: TOB Trust Securitization Initial TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Facility Fees Southpark MRB $ 9,840,000 June 2024 Variable Yes 1.44 % Trust 2024-XF3219 21,795,000 February 2027 Variable No 1.79 % Woodington Gardens - Series A-1 24,920,000 April 2027 Variable Yes 1.44 % Aventine Apartments 7,600,000 June 2027 Variable Yes 1.44 % Total TOB Trust Financings $ 64,155,000 The following is a summary of the new TOB trust financings that were entered into during the six months ended June 30, 2023: TOB Trusts Securitization Initial TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Facility Fees Residency at Empire MRB $ 14,400,000 January 2026 Variable Yes 1.42 % Windsor Shores MRB 17,236,000 January 2026 Variable Yes 1.44 % SoLa Impact Opportunity Zone Fund 27,300,000 December 2024 Variable No 1.78 % The Ivy Apartments MRB 24,400,000 February 2026 Variable Yes 1.44 % Village at Hanford Square MRB 7,800,000 May 2026 Variable Yes 1.44 % MaryAlice Circle MRB 4,720,000 May 2026 Variable Yes 1.44 % Meadow Valley MRB 8,606,000 June 2026 Variable Yes 1.44 % Village Point MRB 18,400,000 June 2024 Variable Yes 1.61 % Total TOB Trust Financings $ 122,862,000
Summary of TOB Trust Financings Were Repaid in Connection With Redemption or Sale of Underlying Assets	The following is a summary of the debt financing principal payments made in connection with the redemption of underlying assets during the six months ended June 30, 2024: Debt Financing Debt Facility Month Paydown Applied Hope on Avalon GIL TOB Trust January 2024 $ 18,712,000 Trust 2021-XF2926 - Hope on Avalon taxable GIL TOB Trust January 2024 9,515,000 Trust 2021-XF2939 - Osprey Village property loan TOB Trust February 2024 12,365,000 Trust 2021-XF2939 - Osprey Village Supplemental property loan TOB Trust February 2024 3,795,000 Trust 2021-XF2953 - Willow Place property loan TOB Trust February 2024 15,080,000 Trust 2021-XF2926 - Legacy Commons at Signal Hills property loan TOB Trust February 2024 28,985,000 Trust 2021-XF2939 - Residency at the Mayer Series A-T TOB Trust March 2024 9,480,000 SoLa Impact Opportunity Zone Fund TOB Trust March 2024 350,000 $ 98,282,000 The following is a summary of the debt trust financing repaid in connection with the redemption of the underlying asset during the six months ended June 30, 2023: Debt Financing Debt Facility Month Paydown Applied Greens of Pine Glen M31 TEBS February 2023 $ 7,579,000 Oasis at Twin Lakes GIL TOB Trust June 2023 30,600,000 Trust 2021-XF2926 - Oasis at Twin Lakes property loan TOB Trust June 2023 21,600,000 $ 59,779,000
Schedule of Contractual Maturities of Borrowings	The Partnership’s contractual maturities of borrowings as of June 30, 2024 for the twelve-month periods ending December 31 st for the next five years and thereafter are as follows: Remainder of 2024 $ 125,160,933 2025 318,247,785 2026 180,576,526 2027 169,928,219 2028 4,518,577 Thereafter 257,086,608 Total 1,055,518,648 Unamortized deferred financing costs and debt premium ( 2,992,550 ) Total debt financing, net $ 1,052,526,098

Mortgages Payable (Tables)

Mortgages Payable (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Instrument [Line Items]
Schedule of Total Debt Financing	The following tables summarize the Partnership’s debt financings, net of deferred financing costs, as of June 30, 2024 and December 31, 2023: Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 65,947,462 $ 4,999 2024 Variable Yes 3.91 % 1.35 % 5.26 % M33 TEBS 28,518,298 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS 208,646,796 5,000 2034 Fixed Yes N/A N/A 4.39 % Subtotal/Weighed Average Period End Rate 303,112,556 4.47 % TEBS Residual Financing $ 60,282,673 $ 18,000 2034 Fixed Yes N/A N/A 7.16 % TOB Trust Securitizations Mizuho Capital Markets: Southpark MRB 9,836,063 (4) 2024 Variable Yes 4.20 % 1.44 % 5.64 % SoLa Impact Opportunity Zone Fund 23,433,061 (4) 2024 Variable No 5.59 % 1.78 % 7.37 % Montevista - Series A 5,596,181 (4) 2025 Variable Yes 4.20 % 1.28 % 5.48 % The Park at Sondrio - Series 2022A 30,418,077 (4) 2025 Variable Yes 4.20 % 1.43 % 5.63 % The Park at Vietti - Series 2022A 21,539,334 (4) 2025 Variable Yes 4.20 % 1.43 % 5.63 % Residency at the Entrepreneur MRBs 34,060,000 (4) 2025 Variable Yes 4.20 % 1.45 % 5.65 % Legacy Commons at Signal Hills GIL 31,155,000 (4) 2025 Variable Yes 4.20 % 0.91 % 5.11 % Osprey Village GIL 49,475,000 (4) 2025 Variable Yes 4.20 % 1.19 % 5.39 % Residency at the Mayer Taxable MRB 824,656 (4) 2025 Variable No 5.59 % 1.17 % 6.76 % Residency at Empire MRBs 29,847,760 (4) 2026 Variable Yes 4.20 % 1.42 % 5.62 % The Ivy Apartments 24,347,506 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Windsor Shores Apartments 17,196,987 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Village at Hanford Square 7,768,683 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % MaryAlice Circle Apartments 4,690,419 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Meadow Valley 22,039,174 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % 40rty on Colony 4,445,678 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Sandy Creek Apartments GIL 9,628,693 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Residency at the Mayer MRBs 33,803,106 (4) 2026 Variable Yes 4.20 % 1.19 % 5.39 % The Safford 15,286,911 (4) 2026 Variable Yes 4.20 % 1.44 % 5.64 % Avistar at Wood Hollow - Series A 32,463,660 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Live 929 53,092,000 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Jackson Manor Apartments 4,100,000 (4) 2027 Variable Yes 4.20 % 1.29 % 5.49 % Woodington Gardens - Series A-1 24,824,240 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Aventine Apartments 7,551,963 (4) 2027 Variable Yes 4.20 % 1.44 % 5.64 % Montecito at Williams Ranch - Series A 6,783,767 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Vineyard Gardens - Series A 3,594,028 (4) 2027 Variable Yes 4.20 % 1.18 % 5.38 % Avistar at Copperfield - Series A 11,304,585 (4) 2027 Variable Yes 4.20 % 1.68 % 5.88 % Avistar at Wilcrest - Series A 4,280,584 (4) 2027 Variable Yes 4.20 % 1.68 % 5.88 % Trust 2024-XF3219 (5) 31,294,815 (4) 2027 Variable No 5.59 % 1.79 % 7.38 % Barclays Capital Inc.: Trust 2021-XF2953 (6) 54,628,333 - 2025 Variable No 5.47 % 1.27 % 6.74 % Poppy Grove I GIL 22,274,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Poppy Grove II GIL 10,030,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Poppy Grove III GIL 16,437,279 - 2025 Variable Yes 5.10 % 1.25 % 6.35 % Village Point 18,389,543 - 2025 Variable Yes 5.10 % 1.61 % 6.71 % Subtotal/Weighed Average Period End Rate 676,441,644 5.87 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,689,225 - 2025 Fixed Yes N/A N/A 6.33 % Total Debt Financings $ 1,052,526,098 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. (4) The Partnership has restricted cash totaling approximately $ 16.8 million related to its total net position with Mizuho. (5) The TOB trust is securitized by seven MRBs, nine taxable MRBs, and one property loan. (6) The TOB trust is securitized by the Willow Place GIL & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. Outstanding Debt Financings Restricted Stated Interest Rate Type Tax-Exempt Interest on Senior Securities (1) Remarketing Senior (2) Facility Fees Period End TEBS Financings M31 TEBS (3) $ 66,621,825 $ 4,999 2024 Variable Yes 3.90 % 1.31 % 5.21 % M33 TEBS 28,870,624 2,606 2030 Fixed Yes N/A N/A 3.24 % M45 TEBS 209,769,942 5,000 2034 Fixed Yes N/A N/A 4.39 % Subtotal/Weighed Average Period End Rate 305,262,391 4.46 % TEBS Residual Financing $ 60,322,317 $ - 2034 Fixed Yes N/A N/A 7.16 % TOB Trust Securitizations Mizuho Capital Markets: Hope on Avalon GIL 18,711,665 (4) 2024 Variable Yes 4.24 % 1.44 % 5.68 % Jackson Manor Apartments 4,100,000 (4) 2024 Variable Yes 4.24 % 1.29 % 5.53 % Trust 2021-XF2926 (5) 38,496,952 (4) 2024 Variable No 5.59 % 0.90 % 6.49 % SoLa Impact Opportunity Zone Fund 23,741,122 (4) 2024 Variable No 5.59 % 1.78 % 7.37 % Montevista - Series A 5,618,833 (4) 2025 Variable Yes 4.24 % 1.28 % 5.52 % Montecito at Williams Ranch - Series A 6,813,244 (4) 2025 Variable Yes 4.24 % 1.18 % 5.42 % Vineyard Gardens - Series A 3,593,615 (4) 2025 Variable Yes 4.24 % 1.18 % 5.42 % The Park at Sondrio - Series 2022A 30,396,222 (4) 2025 Variable Yes 4.24 % 1.43 % 5.67 % The Park at Vietti - Series 2022A 21,522,158 (4) 2025 Variable Yes 4.24 % 1.43 % 5.67 % Avistar at Copperfield - Series A 11,370,985 (4) 2025 Variable Yes 4.24 % 1.68 % 5.92 % Avistar at Wilcrest - Series A 4,303,984 (4) 2025 Variable Yes 4.24 % 1.68 % 5.92 % Residency at the Entrepreneur MRBs 23,040,000 (4) 2025 Variable Yes 4.24 % 1.45 % 5.69 % Legacy Commons at Signal Hills GIL 31,155,000 (4) 2025 Variable Yes 4.24 % 0.91 % 5.15 % Osprey Village GIL 49,475,000 (4) 2025 Variable Yes 4.24 % 1.19 % 5.43 % Trust 2021-XF2939 (6) 21,821,644 (4) 2025 Variable No 5.59 % 1.17 % 6.76 % Residency at Empire MRBs 18,267,048 (4) 2026 Variable Yes 4.24 % 1.42 % 5.66 % The Ivy Apartments 24,330,930 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Windsor Shores Apartments 17,183,983 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Village at Hanford Square 7,760,141 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % MaryAlice Circle Apartments 4,682,351 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Meadow Valley 15,438,915 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % 40rty on Colony 4,440,847 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Sandy Creek Apartments GIL 9,616,853 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Residency at the Mayer - Series A 24,335,000 (4) 2026 Variable Yes 4.24 % 1.19 % 5.43 % The Safford 5,911,780 (4) 2026 Variable Yes 4.24 % 1.44 % 5.68 % Avistar at Wood Hollow - Series A 32,673,300 (4) 2027 Variable Yes 4.24 % 1.44 % 5.68 % Live 929 53,092,000 (4) 2027 Variable Yes 4.24 % 1.18 % 5.42 % Barclays Capital Inc.: Trust 2021-XF2953 (7) 69,694,599 - 2024 Variable No 5.48 % 1.27 % 6.75 % Poppy Grove I GIL 15,872,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Poppy Grove II GIL 7,628,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Poppy Grove III GIL 13,235,163 - 2024 Variable Yes 4.40 % 1.25 % 5.65 % Village Point 18,381,720 - 2024 Variable Yes 4.43 % 1.61 % 6.04 % Subtotal/Weighed Average Period End Rate 636,705,380 5.87 % Term TOB Trust Securitizations Morgan Stanley: Village at Avalon $ 12,739,978 - 2024 Fixed Yes N/A N/A 1.98 % Total Debt Financings $ 1,015,030,066 (1) The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. (2) The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. (3) Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. (4) The Partnership has restricted cash totaling approximately $ 9.6 million related to its total net position with Mizuho. (5) The TOB trust is securitized by the Legacy Commons at Signal Hills property loan and the Hope on Avalon taxable GIL. (6) The TOB trust is securitized by the Residency at the Mayer taxable MRB and Osprey Village property loan. (7) The TOB trust is securitized by the Willow Place GIL, property loan & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL.
Mortgages payable [Member]
Debt Instrument [Line Items]
Schedule of Total Debt Financing	The following is a summary of the Partnership's mortgage payable, net of deferred financing costs, as of June 30, 2024 and December 31, 2023: Property Mortgage Payables Outstanding Mortgage Outstanding Mortgage Year Stated Maturity Variable Period End Vantage at San Marcos (1) $ 1,690,000 $ 1,690,000 2020 November 2024 Variable 9.25 % (1) The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 3).

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative [Line Items]
Summary of Unrealized and Realized Gains and Losses of Partnership's Derivative Instruments	The following tables are a summary of the unrealized and realized gains and losses of the Partnership's derivative instruments for the three and six months ended June 30, 2024 and 2023: For the Three Months ended June 30, 2024 For the Six Months ended June 30, 2024 Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Interest rate swaps $ ( 1,674,351 ) $ ( 210,618 ) $ ( 1,884,969 ) $ ( 3,337,800 ) $ ( 4,815,063 ) $ ( 8,152,863 ) Interest rate cap - 35 35 - 265 265 Total $ ( 1,674,351 ) $ ( 210,583 ) $ ( 1,884,934 ) $ ( 3,337,800 ) $ ( 4,814,798 ) $ ( 8,152,598 ) For the Three Months ended June 30, 2023 For the Six Months ended June 30, 2023 Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Realized (gains) losses on derivatives, net Unrealized (gains) losses on derivatives, net Net result from derivative transactions Interest rate swaps $ ( 1,273,493 ) $ ( 6,028,500 ) $ ( 7,301,993 ) $ ( 2,102,973 ) $ ( 2,598,498 ) $ ( 4,701,471 ) Interest rate cap - 8,235 8,235 - 14,200 14,200 Total return swaps ( 1,319,989 ) - ( 1,319,989 ) ( 2,643,340 ) - ( 2,643,340 ) Total $ ( 2,593,482 ) $ ( 6,020,265 ) $ ( 8,613,747 ) $ ( 4,746,313 ) $ ( 2,584,298 ) $ ( 7,330,611 )
Summary of Partnership's Derivative Instruments	The following tables summarize the Partnership’s derivative instruments as of June 30, 2024 and December 31, 2023: Fair Value as of Contract Type Notional Amount Asset Liability Weighted Average Swaps SOFR 365,678,394 $ 9,679,247 $ ( 418,075 ) 3.11 Cap 4.5 % SIFMA Rate Cap 72,578,127 - - 0.17 438,256,521 $ 9,679,247 $ ( 418,075 ) Fair Value as of Contract Type Notional Amount Asset Liability Weighted Average Swaps SOFR 333,250,226 $ 5,254,398 $ ( 705,694 ) 3.48 Cap 4.5 % SIFMA Rate Cap 73,393,729 265 - 0.67 406,643,955 $ 5,254,663 $ ( 705,694 )
Summary of Average Notional Amount and Weighted Average Fixed Rate by Year	The following table summarizes the average notional amount and weighted average fixed rate by year for our interest rate swaps as of June 30, 2024: Year Average Notional Weighted Average Remainder of 2024 $ 391,117,465 3.52 % 2025 322,456,631 3.39 % 2026 272,318,799 3.36 % 2027 186,920,466 3.44 % 2028 150,622,132 3.54 % 2029 114,067,299 3.45 % 2030 14,317,800 3.74 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Summary of Partnership's Bond Purchase Commitments	The following table summarizes the Partnership’s bond purchase commitments as of June 30, 2024 and December 31, 2023: Bond Purchase Commitments Commitment Date Maximum Interest Estimated Closing Fair Value as of Fair Value as of Anaheim & Walnut September 2021 3,900,000 4.85 % Q3 2024 46,238 197,788
Summary of Partnership's Total and Remaining Commitments	Property Name Commitment Date Maturity Date Interest Rate (1) Total Initial Commitment Remaining Commitment Mortgage Revenue Bonds Meadow Valley December 2021 December 2029 6.25 % $ 44,000,000 $ 14,470,000 Residency at the Entrepreneur- Series J-4 April 2022 March 2040 SOFR + 3.60 % (2) 16,420,000 12,600,000 Residency at the Entrepreneur- Series J-5 February 2023 April 2025 (3) SOFR + 3.60 % 5,000,000 4,000,000 Residency at Empire - Series BB-4 December 2022 December 2040 6.45 % (4) 47,000,000 41,500,000 The Safford October 2023 October 2026 (3) 7.59 % 43,000,000 23,737,106 Subtotal 155,420,000 96,307,106 Taxable Mortgage Revenue Bonds Residency at the Entrepreneur Series J-T April 2022 April 2025 (3) SOFR + 3.65 % $ 8,000,000 $ 7,000,000 Residency at Empire - Series BB-T December 2022 December 2025 (3) 7.45 % 9,404,500 8,404,500 Village at Hanford Square - Series H-T May 2023 May 2030 7.25 % 10,400,000 6,900,000 40rty on Colony - Series P-T June 2023 June 2030 7.45 % 5,950,000 4,950,000 Subtotal 33,754,500 27,254,500 Governmental Issuer Loans Poppy Grove I September 2022 April 2025 (3) 6.78 % 35,688,328 7,842,328 Poppy Grove II September 2022 April 2025 (3) 6.78 % 22,250,000 9,708,700 Poppy Grove III September 2022 April 2025 (3) 6.78 % 39,119,507 18,569,507 Subtotal 97,057,835 36,120,535 Taxable Governmental Issuer Loans Poppy Grove I September 2022 April 2025 (3) 6.78 % $ 21,157,672 $ 20,157,672 Poppy Grove II September 2022 April 2025 (3) 6.78 % 10,941,300 9,941,300 Poppy Grove III September 2022 April 2025 (3) 6.78 % 24,480,493 23,480,493 Subtotal 56,579,465 53,579,465 Property Loans Sandy Creek Apartments August 2023 September 2026 (3) 8.63 % (5) $ 7,830,000 $ 1,042,008 Subtotal 7,830,000 1,042,008 Equity Investments Vantage at San Marcos (6), (7) November 2020 N/A N/A $ 9,914,529 $ 8,943,914 Freestone Greeley (7) October 2022 N/A N/A 16,035,710 10,562,345 Freestone Greenville December 2023 N/A N/A 20,049,570 12,639,538 Freestone Ladera (7) December 2023 N/A N/A 17,097,624 13,449,494 Subtotal 63,097,433 45,595,291 Bond Purchase Commitments Anaheim & Walnut September 2021 Q3 2024 (8) 4.85 % $ 3,900,000 $ 3,900,000 Subtotal 3,900,000 3,900,000 Total Commitments $ 417,639,233 $ 263,798,905 (1) The variable index interest rate components are subject to a floor of 0.27 %. (2) Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. (3) The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. (4) Upon stabilization, the MRB will convert to a fixed rate of 10.0 % and become subordinate to the other senior MRBs of the borrower. (5) The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. (6) The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 3). (7) A development site has been identified for this property but construction had not commenced as of June 30, 2024. (8) This is the estimated closing date of the associated bond purchase commitment.
Summary of Partnership's Maximum Exposure Under Guaranty Agreements	The following table summarizes the Partnership’s maximum exposure under these guaranty agreements as of June 30, 2024: Limited Partnership(s) End of Guaranty Period Partnership's Maximum Exposure Ohio Properties 2026 $ 1,960,152 Greens of Pine Glen, LP 2027 1,470,582

Redeemable Preferred Units (Tab

Redeemable Preferred Units (Tables)	6 Months Ended
	Jun. 30, 2024
Temporary Equity Disclosure [Abstract]
Summary of Issuances of Preferred Units	The following table summarizes the Partnership’s outstanding Preferred Units as of June 30, 2024 and December 31, 2023: June 30, 2024 Month Issued Units Purchase Price Distribution Redemption Earliest Redemption Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % $ 10.00 April 2028 October 2022 1,000,000 10,000,000 3.00 % 10.00 October 2028 February 2023 1,500,000 15,000,000 3.00 % 10.00 February 2029 June 2023 1,000,000 10,000,000 3.00 % 10.00 June 2029 Total Series A-1 Preferred Units 5,500,000 55,000,000 Series B Preferred Units January 2024 1,750,000 $ 17,500,000 5.75 % 10.00 January 2030 February 2024 500,000 5,000,000 5.75 % $ 10.00 February 2030 Total Series B Preferred Units 2,250,000 22,500,000 Redeemable Preferred Units 7,750,000 $ 77,500,000 December 31, 2023 Month Issued Units Purchase Price Distribution Redemption Series A Preferred Units March 2016 1,000,000 $ 10,000,000 3.00 % $ 10.00 March 2017 1,000,000 10,000,000 3.00 % 10.00 October 2017 750,000 7,500,000 3.00 % 10.00 Total Series A Preferred Units 2,750,000 27,500,000 Series A-1 Preferred Units April 2022 2,000,000 $ 20,000,000 3.00 % $ 10.00 October 2022 1,000,000 10,000,000 3.00 % 10.00 February 2023 1,500,000 15,000,000 3.00 % 10.00 June 2023 1,000,000 10,000,000 3.00 % 10.00 Total Series A-1 Preferred Units 5,500,000 55,000,000 Redeemable Preferred Units 8,250,000 $ 82,500,000

Restricted Unit Awards (Tables)

Restricted Unit Awards (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of RUA Activity	The following table summarizes the RUA activity for the six months ended June 30, 2024 and for the year ended December 31, 2023: Restricted Units Weighted average Unvested as of January 1, 2023 87,334 $ 19.33 Granted 105,274 17.65 Vested ( 97,008 ) 18.64 Unvested as of December 31, 2023 95,600 18.18 Granted 109,581 16.62 Unvested as of June 30, 2024 205,181 $ 17.35

Transactions with Related Par_2

Transactions with Related Parties (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Summary of Transactions with Related Parties Reflected in the Partnership's Consolidated Financial Statements	The following table summarizes transactions with related parties that are reflected in the Partnership's condensed consolidated financial statements for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Partnership administrative fees paid to the General Partner (1) $ 1,515,000 $ 1,628,000 $ 3,001,000 $ 3,206,000 Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities (2) 23,000 123,000 43,000 138,000 Referral fees paid to an affiliate (3) - 29,750 - 106,000 (1) The General Partner is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its investment assets for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to the General Partner. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s condensed consolidated statements of operations. (2) The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s condensed consolidated statements of operations. (3) The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2024, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond acquisition costs that are deferred and amortized as a yield adjustment to the related investment asset.
Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates	The following table summarizes transactions between borrowers of the Partnership’s affiliates for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Investment/mortgage placement fees earned by the General Partner (1) 1,544,000 785,000 $ 1,569,000 $ 3,042,000 (1) The General Partner received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Measurements [Abstract]
Summary of Range of Effective Yields and Weighted Average Effective Yields of Partnership's Investments	The range of effective yields and weighted average effective yields of the Partnership’s investments in MRBs, taxable MRBs and bond purchase commitments as of June 30, 2024 and December 31, 2023 are as follows: Range of Effective Yields Weighted Average Effective Yields (1) Security Type June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Mortgage revenue bonds (2) 2.9 % - 8.4 % 2.3 % - 7.7 % 5.5 % 4.8 % Taxable mortgage revenue bonds 7.1 % - 11.9 % 6.5 % - 11.9 % 8.9 % 8.8 % Bond purchase commitments 4.7 % 4.1 % 4.7 % 4.1 % (1) Weighted by the total principal outstanding of all the respective securities as of the reporting date . (2) Mortgage revenue bonds excludes the Provision Center 2014-1 MRB as the bankruptcy process is nearly complete. The valuation as of June 30, 2024 is based on expected additional liquidation proceeds of approximately $ 365,000 at final liquidation.
Summary of Assets Measured at Fair Value on Recurring Basis	Assets measured at fair value on a recurring basis as of June 30, 2024 are summarized as follows: Fair Value Measurements as of June 30, 2024 Description Assets and Liabilities Quoted Prices in Significant Other Significant Assets and Liabilities Mortgage revenue bonds, held in trust $ 990,067,074 $ - $ - $ 990,067,074 Mortgage revenue bonds 11,984,951 - - 11,984,951 Bond purchase commitments (reported within other assets) 46,238 - - 46,238 Taxable mortgage revenue bonds (reported within other assets) 15,926,321 - - 15,926,321 Derivative instruments (reported within other assets) 9,679,247 - 9,679,247 - Derivative swap liability (reported within other liabilities) ( 418,075 ) - ( 418,075 ) - Total Assets and Liabilities at Fair Value, net $ 1,027,285,756 $ - $ 9,261,172 $ 1,018,024,584 Assets measured at fair value on a recurring basis as of December 31, 2023 are summarized as follows: Fair Value Measurements as of December 31, 2023 Description Assets and Liabilities Quoted Prices in Significant Other Significant Assets and Liabilities Mortgage revenue bonds, held in trust $ 883,030,786 $ - $ - $ 883,030,786 Mortgage revenue bonds 47,644,509 - - 47,644,509 Bond purchase commitments (reported within other assets) 197,788 - - 197,788 Taxable mortgage revenue bonds (reported within other assets) 21,460,288 - - 21,460,288 Derivative instruments (reported within other assets) 5,254,663 - 5,254,398 265 Derivative swap liability (reported within other liabilities) ( 705,694 ) - ( 705,694 ) - Total Assets and Liabilities at Fair Value, net $ 956,882,340 $ - $ 4,548,704 $ 952,333,636
Summary of Activity Related to Level 3 Assets and Liabilities	The following table summarizes the activity related to Level 3 assets for the three and six months ended June 30, 2024: For the Three Months Ended June 30, 2024 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Mortgage Derivative Total Beginning Balance April 1, 2024 $ 942,745,597 $ 134,829 $ 10,980,756 $ 34 $ 953,861,216 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 56,457 - ( 2,894 ) ( 34 ) 53,529 Included in earnings (provision for credit loss) 169,308 - - - 169,308 Included in earnings (gain on sale of 1,012,581 - - - 1,012,581 Included in other comprehensive income ( 10,482,567 ) ( 88,591 ) ( 125,411 ) - ( 10,696,569 ) Purchases and advances 78,375,062 - 5,077,000 - 83,452,062 Sales ( 8,221,234 ) - - - ( 8,221,234 ) Settlements and redemptions ( 1,603,179 ) - ( 3,130 ) - ( 1,606,309 ) Ending Balance June 30, 2024 $ 1,002,052,025 $ 46,238 $ 15,926,321 $ - $ 1,018,024,584 Total amount of gains (losses) for the $ 186,653 $ - $ - $ ( 34 ) $ 186,619 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Six Months ended June 30, 2024 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Taxable Mortgage Derivative Total Beginning Balance January 1, 2024 $ 930,675,295 $ 197,788 $ 21,460,288 $ 265 $ 952,333,636 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 127,840 - ( 8,944 ) ( 265 ) 118,631 Included in earnings (provision for credit loss) 169,308 - - - 169,308 Included in earnings (gain on sale of 1,012,581 - - - 1,012,581 Included in other comprehensive income ( 22,520,881 ) ( 151,550 ) ( 95,834 ) - ( 22,768,265 ) Purchases and advances 104,672,860 - 6,077,000 - 110,749,860 Sales ( 8,221,234 ) - - - ( 8,221,234 ) Settlements and redemptions ( 3,863,744 ) - ( 11,506,189 ) - ( 15,369,933 ) Ending Balance June 30, 2024 $ 1,002,052,025 $ 46,238 $ 15,926,321 $ - $ 1,018,024,584 Total amount of gains (losses) for the $ 203,808 $ - $ - $ ( 265 ) $ 203,543 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. The following tables summarize the activity related to Level 3 assets and liabilities for the three and six months ended June 30, 2023: For the Three Months ended June 30, 2023 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Derivative Total Beginning Balance April 1, 2023 $ 867,383,622 $ 211,476 $ 18,146,540 $ 285,145 $ 886,026,783 Total gains (losses) (realized/unrealized) Included in earnings ( interest income and 77,836 - ( 6,049 ) 1,311,754 1,383,541 Included in other comprehensive income ( 11,144,483 ) ( 73,376 ) ( 355,087 ) - ( 11,572,946 ) Purchases and advances 51,164,875 - 4,514,875 - 55,679,750 Settlements and redemptions ( 1,517,871 ) - ( 2,861 ) ( 1,295,275 ) ( 2,816,007 ) Ending Balance June 30, 2023 $ 905,963,979 $ 138,100 $ 22,297,418 $ 301,624 $ 928,701,121 Total amount of gains (losses) for the $ 17,345 $ - $ - $ ( 8,235 ) $ 9,110 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership. For the Six Months Ended June 30, 2023 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage (1) Bond Purchase Commitments Taxable Mortgage Derivative Total Beginning Balance January 1, 2023 $ 799,408,004 $ 98,929 $ 16,531,896 $ 331,240 $ 816,370,069 Total gains (losses) (realized/unrealized) Included in earnings (interest income and 155,329 - ( 12,099 ) 2,629,139 2,772,369 Included in other comprehensive income 9,434,568 39,171 ( 536,596 ) - 8,937,143 Purchases and advances 111,787,688 - 6,319,875 - 118,107,563 Settlements and redemptions ( 14,821,610 ) - ( 5,658 ) ( 2,658,755 ) ( 17,486,023 ) Ending Balance June 30, 2023 $ 905,963,979 $ 138,100 $ 22,297,418 $ 301,624 $ 928,701,121 Total amount of gains for the $ 34,312 $ - $ - $ ( 14,259 ) $ 20,053 (1) Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership.
Summary of Fair Value of Partnership's Financial Liabilities	The table below summarizes the fair value of the Partnership’s financial liabilities as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Financial Liabilities: Debt financing $ 1,052,526,098 $ 1,049,918,127 $ 1,015,030,066 $ 1,019,218,351 Secured lines of credit 41,250,000 41,250,000 33,400,000 33,400,000 Mortgages payable 1,690,000 1,690,000 1,690,000 1,690,000

Income Tax Provision (Tables)

Income Tax Provision (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense (Benefit)	The following table summarizes income tax expense (benefit) for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Current income tax expense (benefit) $ ( 10 ) $ ( 76 ) $ ( 4,206 ) $ 8,264 Deferred income tax expense (benefit) ( 776 ) ( 1,073 ) 2,222 ( 2,055 ) Total income tax expense (benefit) $ ( 786 ) $ ( 1,149 ) $ ( 1,984 ) $ 6,209

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Summary of Partnership Reportable Segment Information	The following table details certain financial information for the Partnership’s reportable segments for the three and six months ended June 30, 2024 and 2023: For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Total revenues Affordable Multifamily MRB Investments $ 19,993,802 $ 22,952,542 $ 39,992,779 $ 44,390,475 Seniors and Skilled Nursing MRB Investments 820,347 336,487 1,567,855 433,042 Market-Rate Joint Venture Investments 1,155,022 3,906,556 2,779,191 6,084,418 MF Properties - 1,108,356 - 2,333,976 Total revenues $ 21,969,171 $ 28,303,941 $ 44,339,825 $ 53,241,911 Interest expense Affordable Multifamily MRB Investments $ 13,853,241 $ 17,216,048 $ 26,622,380 $ 33,642,603 Seniors and Skilled Nursing MRB Investments 567,096 87,591 1,064,266 87,591 Market-Rate Joint Venture Investments 477,928 298,591 1,015,554 560,398 MF Properties - - - - Total interest expense $ 14,898,265 $ 17,602,230 $ 28,702,200 $ 34,290,592 Net result from derivative transactions Affordable Multifamily MRB Investments $ ( 1,615,398 ) $ ( 8,371,772 ) $ ( 7,050,960 ) $ ( 7,088,636 ) Seniors and Skilled Nursing MRB Investments ( 269,536 ) ( 241,975 ) ( 1,101,638 ) ( 241,975 ) Market-Rate Joint Venture Investments - - - - MF Properties - - - - Total net result from derivative transactions $ ( 1,884,934 ) $ ( 8,613,747 ) $ ( 8,152,598 ) $ ( 7,330,611 ) Depreciation expense Affordable Multifamily MRB Investments $ 5,966 $ 5,967 $ 11,933 $ 11,913 Seniors and Skilled Nursing MRB Investments - - - - Market-Rate Joint Venture Investments - - - - MF Properties - 399,441 - 798,476 Total depreciation expense $ 5,966 $ 405,408 $ 11,933 $ 810,389 Net income Affordable Multifamily MRB Investments $ 4,137,240 $ 9,780,399 $ 12,673,483 $ 8,978,826 Seniors and Skilled Nursing MRB Investments 307,787 479,871 1,390,227 576,426 Market-Rate Joint Venture Investments 669,370 10,931,529 1,699,068 28,210,796 MF Properties 63,739 95,373 63,739 312,346 Net income $ 5,178,136 $ 21,287,172 $ 15,826,517 $ 38,078,394 The following table details total assets for the Partnership’s reportable segments as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Total assets Affordable Multifamily MRB Investments $ 1,402,754,579 $ 1,413,596,701 Seniors and Skilled Nursing MRB Investments 58,420,535 43,532,926 Market-Rate Joint Venture Investments 162,038,096 140,791,041 MF Properties 7,991,397 7,034,690 Consolidation/eliminations ( 102,562,887 ) ( 91,554,656 ) Total assets $ 1,528,641,720 $ 1,513,400,702

Subsequent Events (Tables)

Subsequent Events (Tables)	6 Months Ended
	Jun. 30, 2024
Subsequent Event [Line Items]
Summary of Terms of Interest Rate Swap Agreement	The following tables summarize the Partnership’s derivative instruments as of June 30, 2024 and December 31, 2023: Fair Value as of Contract Type Notional Amount Asset Liability Weighted Average Swaps SOFR 365,678,394 $ 9,679,247 $ ( 418,075 ) 3.11 Cap 4.5 % SIFMA Rate Cap 72,578,127 - - 0.17 438,256,521 $ 9,679,247 $ ( 418,075 ) Fair Value as of Contract Type Notional Amount Asset Liability Weighted Average Swaps SOFR 333,250,226 $ 5,254,398 $ ( 705,694 ) 3.48 Cap 4.5 % SIFMA Rate Cap 73,393,729 265 - 0.67 406,643,955 $ 5,254,663 $ ( 705,694 )
Summary of Initial Terms of TOB Trusts Financings	In July 2024, the Partnership entered into a new TOB trust financing arrangement with Mizuho. The following table summarizes the initial terms of the TOB trust financing: TOB Trusts Securitization TOB Stated Maturity Interest Rate Type Tax-Exempt Interest on Senior Securities Remarketing Senior Securities Rate Facility Fees Interest Rate The Centurion Foundation loan $ 5,075,000 July 2027 Variable No 5.59 % 1.79 % 7.38 %
Interest rate swap [Member]
Subsequent Event [Line Items]
Summary of Terms of Interest Rate Swap Agreement	In July 2024, the Partnership entered into an additional interest rate swap agreement to mitigate interest rate risk associated with its variable rate TOB trust financings. The following table summarizes the terms of the interest rate swap agreement: Trade Date Notional Amount Effective Date Termination Date Fixed Rate Paid Variable Rate Index Received Variable Debt Counterparty July 2024 $ 5,075,000 8/1/2024 7/1/2034 3.905 % Compounded SOFR TOB Trusts Mizuho

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 Rating Preferredunit
Segment Reporting Information [Line Items]
Number of partnership preferred units | Preferredunit	3
Tax-exempt and Other Investments [Member]
Segment Reporting Information [Line Items]
Assets percentage	25%
Maximum [Member]
Segment Reporting Information [Line Items]
Required rating for tax exempted investments other than mortgage revenue bonds	4
Minimum [Member]
Segment Reporting Information [Line Items]
Required rating for tax exempted investments other than mortgage revenue bonds	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024
Summary Of Significant Accounting Policies [Line Items]
Long-term annual inflation target rate	2%
Greens Hold Co [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership interest percentage in MF property	100%
Lindo Paseo LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership interest percentage in MF property	100%

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Details) $ in Millions	Jun. 30, 2024 USD ($) Property	Dec. 31, 2023 Property
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Variable Interest Entities | Property	30	33
Investments in Unconsolidated Entities [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	$ 36.7
Mortgage Revenue Bonds [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	81.8
Taxable Mortgage Revenue Bonds [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	15.4
Governmental Issuer Loans [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	36.1
Taxable Governmental Issuer Loans [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	53.6
Property Loans [Member] | Non-Consolidated VIEs [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum exposure to loss, funding commitments	$ 1

Variable Interest Entities - Va

Variable Interest Entities - Variable Interest Entities Property Asset Carrying Value by Assets and Maximum Exposure (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	$ 556,120,622	$ 579,009,953
Maximum Exposure to Loss	552,013,918	572,142,140
Mortgage Revenue Bonds Held In Trust [Member]
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	157,707,267	101,785,909
Maximum Exposure to Loss	153,571,233	95,186,213
Mortgage Revenue Bonds [Member]
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	0	3,450,188
Maximum Exposure to Loss	0	3,150,000
Taxable mortgage revenue bonds (reported within other assets) [Member]
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	2,982,399	13,488,560
Maximum Exposure to Loss	3,011,729	13,520,631
Governmental Issuer Loans Held in Trust [Member]
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	194,157,300	202,547,300
Maximum Exposure to Loss	194,157,300	202,547,300
Taxable Governmental Issuer Loans (Reported Within Other Assets) [Member]
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	3,000,000	13,573,000
Maximum Exposure to Loss	3,000,000	13,573,000
Property Loans [Member]
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	40,332,992	107,511,750
Maximum Exposure to Loss	40,332,992	107,511,750
Investments in Unconsolidated Entities [Member]
Accounts Notes And Loans Receivable [Line Items]
Carrying Value	157,940,664	136,653,246
Maximum Exposure to Loss	$ 157,940,664	$ 136,653,246

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Assets and Liabilities of the Partnership Consolidated VIE (Details) - USD ($)		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Assets:
Restricted cash		$ 16,860,718	$ 9,815,909	$ 45,764,758
Interest receivable, net		7,193,344	8,265,901
Mortgage revenue bonds held in trust, at fair value		990,067,074	883,030,786
Governmental issuer loans:
Governmental issuer loans held in trust		214,557,300	222,947,300
Allowance for credit losses		(1,111,000)	(1,294,000)
Governmental issuer loans, net		213,446,300	221,653,300
Property loans:
Property loans outstanding principal		63,306,149	122,556,204
Allowance for credit losses		(1,948,000)	(2,048,000)
Property loans, net		61,358,149	120,508,204
Real estate assets		4,716,140	4,716,140
Other assets		31,037,954	43,194,470
Total Assets	[1]	1,528,641,720	1,513,400,702
Liabilities:
Accounts payable, accrued expenses and other liabilities		21,215,235	22,958,088
Debt financing, net (Note 13)		1,052,526,098	1,015,030,066
Mortgages payable		1,690,000	1,690,000
Total Liabilities	[1]	1,125,385,771	1,081,662,446
Variable Interest Entities
Assets:
Restricted cash		30,605	12,605
Interest receivable, net		6,710,673	6,920,851
Mortgage revenue bonds held in trust, at fair value		990,067,074	883,030,786
Governmental issuer loans:
Governmental issuer loans held in trust		214,557,300	222,947,300
Allowance for credit losses		(1,111,000)	(1,294,000)
Governmental issuer loans, net		213,446,300	221,653,300
Property loans:
Property loans outstanding principal		48,451,538	108,271,420
Allowance for credit losses		(305,000)	(675,000)
Property loans, net		48,146,538	107,596,420
Real estate assets		3,606,658	3,606,658
Other assets		19,477,562	24,999,197
Total Assets		1,281,485,410	1,247,819,817
Liabilities:
Accounts payable, accrued expenses and other liabilities	[2]	8,362,553	8,656,003
Debt financing, net (Note 13)	[3]	1,055,752,907	1,018,314,376
Mortgages payable	[4]	1,690,000	1,690,000
Total Liabilities		$ 1,065,805,460	$ 1,028,660,379
[1] The consolidated balance sheets include assets of consolidated VIEs that can only be used to settle obligations of these VIEs that totaled $ 1,281,485,410 and $ 1,247,819,817 as of June 30, 2024 and December 31, 2023, respectively. The consolidated balance sheets include liabilities of the consolidated VIEs for which creditors do not have recourse to the general credit of the Partnership that totaled $ 372,228,109 and $ 374,992,803 as of June 30, 2024 and December 31, 2023, respectively. See Note 3 - Variable Interest Entities for further detail. Of the amounts reported, $ 5,191,201 and $ 5,495,426 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively. Of the amounts reported, $ 365,346,908 and $ 367,807,377 are associated with VIEs where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively. The entire mortgages payable balance is associated with a VIE where the creditor does not have recourse to the general credit of the Partnership as of June 30, 2024 and December 31, 2023, respectively.

Variable Interest Entities - _2

Variable Interest Entities - Schedule of Assets and Liabilities of the Partnership Consolidated VIE (Parenthetical) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Reporting Entity to Variable Interest Entity	$ 552,013,918	$ 572,142,140
Accounts Payable, Accrued Expenses and Other Liabilities | Non recourse
Variable Interest Entity [Line Items]
Reporting Entity to Variable Interest Entity	5,191,201	5,495,426
Debt Financing | Non recourse
Variable Interest Entity [Line Items]
Reporting Entity to Variable Interest Entity	$ 365,346,908	$ 367,807,377

Mortgage Revenue Bonds - Schedu

Mortgage Revenue Bonds - Schedule of Investments in MRBs (Details) - USD ($)		Jun. 30, 2024		Dec. 31, 2023
Mortgage Revenue Bonds Held In Trust [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		$ 951,454,320		$ 825,040,234
Cumulative Unrealized Gain		41,969,667		58,971,739
Cumulative Unrealized Loss		(3,356,913)		(981,187)
Estimated Fair Value		990,067,074		883,030,786
Mortgage Revenue Bonds Held In Trust [Member] | The Safford [Member] | Series A [Member] | AZ [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		19,366,284	[1]	7,667,299	[2]
Cumulative Unrealized Gain		1,672,241	[1]	2,717,033	[2]
Estimated Fair Value		21,038,525	[1]	10,384,332	[2]
Mortgage Revenue Bonds Held In Trust [Member] | 40rty on Colony - Series P [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		5,963,133	[1]	5,964,008	[2]
Cumulative Unrealized Gain		498,774	[1]	739,204	[2]
Estimated Fair Value		6,461,907	[1]	6,703,212	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Courtyard [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,721,946	[3]	9,774,107	[4]
Cumulative Unrealized Gain		463,674	[3]	845,146	[4]
Estimated Fair Value		10,185,620	[3]	10,619,253	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Glenview Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,280,530	[5]	4,312,025	[6]
Cumulative Unrealized Gain		168,744	[5]	298,507	[6]
Estimated Fair Value		4,449,274	[5]	4,610,532	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Harmony Court Bakersfield [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,544,757	[3]	3,563,775	[4]
Cumulative Unrealized Gain		139,578	[3]	275,305	[4]
Estimated Fair Value		3,684,335	[3]	3,839,080	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Harmony Terrace [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,563,249	[3]	6,598,285	[4]
Cumulative Unrealized Gain		315,187	[3]	573,928	[4]
Estimated Fair Value		6,878,436	[3]	7,172,213	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Harden Ranch [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,306,564	[7]	6,355,567	[8]
Cumulative Unrealized Gain		279,216	[7]	441,345	[8]
Estimated Fair Value		6,585,780	[7]	6,796,912	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Las Palmas II [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		1,607,892	[3]	1,616,607	[4]
Cumulative Unrealized Gain		67,293	[3]	128,930	[4]
Estimated Fair Value		1,675,185	[3]	1,745,537	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Lutheran Gardens [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[9],[10]	10,352,000
Cumulative Unrealized Loss	[9],[10]	(37,286)
Estimated Fair Value	[9],[10]	10,314,714
Mortgage Revenue Bonds Held In Trust [Member] | Montclair Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,319,002	[5]	2,336,065	[4]
Cumulative Unrealized Gain		106,080	[5]	170,291	[4]
Estimated Fair Value		2,425,082	[5]	2,506,356	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Montecito at Williams Ranch Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,408,742	[1]	7,442,435	[2]
Cumulative Unrealized Gain		506,313	[1]	846,333	[2]
Estimated Fair Value		7,915,055	[1]	8,288,768	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Montevista [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,582,792	[1]	6,607,973	[2]
Cumulative Unrealized Gain		671,125	[1]	992,675	[2]
Estimated Fair Value		7,253,917	[1]	7,600,648	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Ocotillo Springs [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1],[9]	3,472,440
Cumulative Unrealized Loss	[1],[9]	(166,594)
Estimated Fair Value	[1],[9]	3,305,846
Mortgage Revenue Bonds Held In Trust [Member] | Ocotillo Springs [Member] | Series A-1 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	497,756
Cumulative Unrealized Gain	[1]	76,732
Estimated Fair Value	[1]	574,488
Mortgage Revenue Bonds Held In Trust [Member] | CCBA Senior Garden Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	3,738,947
Cumulative Unrealized Gain	[1]	14,974
Estimated Fair Value	[1]	3,753,921
Mortgage Revenue Bonds Held In Trust [Member] | Residency at Empire - Series BB-1 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		14,114,724	[1]	14,117,540	[2]
Cumulative Unrealized Gain		515,319	[1]	1,004,021	[2]
Estimated Fair Value		14,630,043	[1]	15,121,561	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at Empire - Series BB-2 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,000,000	[1]	4,000,000	[2]
Cumulative Unrealized Gain		180,012	[1]	320,446	[2]
Estimated Fair Value		4,180,012	[1]	4,320,446	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at Empire - Series BB-3 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		14,000,000	[1]	5,055,000	[2]
Cumulative Unrealized Gain		485,236	[1]	575,709	[2]
Estimated Fair Value		14,485,236	[1]	5,630,709	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at Empire - Series BB-4 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	5,500,000
Cumulative Unrealized Gain	[1]	87,202
Estimated Fair Value	[1]	5,587,202
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur - Series J-1 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,082,069	[1]	9,085,429	[2]
Cumulative Unrealized Gain	[2]			181,504
Estimated Fair Value		9,082,069	[1]	9,266,933	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur - Series J-2 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,500,000	[1]	7,500,000	[2]
Cumulative Unrealized Gain	[2]			222,445
Estimated Fair Value		7,500,000	[1]	7,722,445	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur - Series J-3 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		26,080,000	[1]	12,300,000	[2]
Cumulative Unrealized Gain		353,343	[1]	697,895	[2]
Estimated Fair Value		26,433,343	[1]	12,997,895	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur - Series J-4 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	3,820,000
Estimated Fair Value	[1]	3,820,000
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Entrepreneur - Series J-5 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	1,000,000
Estimated Fair Value	[1]	1,000,000
Mortgage Revenue Bonds Held In Trust [Member] | Solano Vista [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	2,601,920
Cumulative Unrealized Gain	[1]	228,174
Estimated Fair Value	[1]	2,830,094
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Mayer [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		29,558,156	[1]	29,560,945	[2]
Estimated Fair Value		29,558,156	[1]	29,560,945	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Residency at the Mayer [Member] | Series M [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	11,500,000
Estimated Fair Value	[1]	11,500,000
Mortgage Revenue Bonds Held In Trust [Member] | San Vicente [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,315,388	[3]	3,333,357	[4]
Cumulative Unrealized Gain		138,754	[3]	265,848	[4]
Estimated Fair Value		3,454,142	[3]	3,599,205	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Santa Fe Apartments [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,809,384	[5]	2,830,055	[6]
Cumulative Unrealized Gain		128,512	[5]	206,301	[6]
Estimated Fair Value		2,937,896	[5]	3,036,356	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Seasons at Simi Valley [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,055,003	[3]	4,083,273	[4]
Cumulative Unrealized Gain		290,903	[3]	443,901	[4]
Estimated Fair Value		4,345,906	[3]	4,527,174	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Seasons Lakewood [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,991,287	[3]	7,028,608	[4]
Cumulative Unrealized Gain		335,743	[3]	611,358	[4]
Estimated Fair Value		7,327,030	[3]	7,639,966	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Seasons San Juan Capistrano [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,771,045	[3]	11,833,880	[4]
Cumulative Unrealized Gain		532,184	[3]	992,473	[4]
Estimated Fair Value		12,303,229	[3]	12,826,353	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Summerhill [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,104,014	[3]	6,136,763	[4]
Cumulative Unrealized Gain		156,751	[3]	381,019	[4]
Estimated Fair Value		6,260,765	[3]	6,517,782	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Sycamore Walk [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,355,897	[3],[11]	3,380,901	[4]
Cumulative Unrealized Gain	[4]			226,216
Cumulative Unrealized Loss	[3],[11]	(90,471)
Estimated Fair Value		3,265,426	[3],[11]	3,607,117	[4]
Mortgage Revenue Bonds Held In Trust [Member] | The Village at Madera [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		2,931,789	[3]	2,947,519	[4]
Cumulative Unrealized Gain		131,674	[3]	227,699	[4]
Estimated Fair Value		3,063,463	[3]	3,175,218	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Tyler Park Townhomes [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		5,490,125	[7]	5,533,307	[8]
Cumulative Unrealized Gain		48,868	[7]	119,693	[8]
Estimated Fair Value		5,538,993	[7]	5,653,000	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Village at Hanford Square [Member] | Series H [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,400,000	[1]	10,400,000	[2]
Cumulative Unrealized Gain		672,773	[1]	1,073,808	[2]
Estimated Fair Value		11,072,773	[1]	11,473,808	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Vineyard Gardens | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,857,697	[1]	3,874,962	[2]
Cumulative Unrealized Gain		305,160	[1]	461,663	[2]
Estimated Fair Value		4,162,857	[1]	4,336,625	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Westside Village Market [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		3,587,787	[7]	3,616,007	[8]
Cumulative Unrealized Gain		129,900	[7]	223,459	[8]
Estimated Fair Value		3,717,687	[7]	3,839,466	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Handsel Morgan Village Apartments [Member] | GA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	2,150,000
Cumulative Unrealized Gain	[1]	210,988
Estimated Fair Value	[1]	2,360,988
Mortgage Revenue Bonds Held In Trust [Member] | Maryalice Circle Apartments [Member] | GA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		5,900,000	[1]	5,900,000	[2]
Cumulative Unrealized Gain		631,693	[1]	880,643	[2]
Estimated Fair Value		6,531,693	[1]	6,780,643	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Copper Gate Apartments [Member] | IN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,780,000	[7]	4,780,000	[8],[12]
Cumulative Unrealized Loss	[8],[12]			(5)
Estimated Fair Value		4,780,000	[7]	4,779,995	[8],[12]
Mortgage Revenue Bonds Held In Trust [Member] | Renaissance [Member] | Series A [Member] | LA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,347,829	[5]	10,429,392	[6]
Cumulative Unrealized Gain		714,728	[5]	1,221,077	[6]
Estimated Fair Value		11,062,557	[5]	11,650,469	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Live 929 Apartments [Member] | Series 2022A [Member] | MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		58,447,151	[1]	58,333,646	[2]
Cumulative Unrealized Gain		3,120,322	[1]	3,275,636	[2]
Estimated Fair Value		61,567,473	[1]	61,609,282	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Woodington Gardens Apartments [Member] | Series A-1 [Member] | MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	31,150,000
Cumulative Unrealized Gain	[1]	3,329,090
Estimated Fair Value	[1]	34,479,090
Mortgage Revenue Bonds Held In Trust [Member] | Meadow Valley [Member] | MI [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[2],[13]			20,863,114
Cumulative Unrealized Loss	[2],[13]			(920,148)
Estimated Fair Value	[2],[13]			19,942,966
Mortgage Revenue Bonds Held In Trust [Member] | Meadow Valley [Member] | Series 2022A [Member] | MI [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1],[14]	29,633,720
Cumulative Unrealized Loss	[1],[14]	(2,056,854)
Estimated Fair Value	[1],[14]	27,576,866
Mortgage Revenue Bonds Held In Trust [Member] | Jackson Manor Apartments [member] | MS [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,803,044	[1],[11]	4,824,474	[2]
Cumulative Unrealized Gain	[2]			209,082
Cumulative Unrealized Loss	[1],[11]	(361,176)
Estimated Fair Value		4,441,868	[1],[11]	5,033,556	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Village Point [Member] | NJ [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[10],[11]	23,000,000
Cumulative Unrealized Loss	[10],[11]	(475,083)
Estimated Fair Value	[10],[11]	22,524,917
Mortgage Revenue Bonds Held In Trust [Member] | Lynnhaven Apartments [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[12],[15]			10,352,000
Cumulative Unrealized Loss	[12],[15]			(30,994)
Estimated Fair Value	[12],[15]			10,321,006
Mortgage Revenue Bonds Held In Trust [Member] | Silver Moon [Member] | Series A [Member] | NM [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,440,266	[5]	7,480,455	[6]
Cumulative Unrealized Gain		623,237	[5]	928,841	[6]
Estimated Fair Value		8,063,503	[5]	8,409,296	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Village at Avalon [Member] | NM [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		15,738,023	[16]	15,808,184	[17]
Cumulative Unrealized Gain		1,364,391	[16]	1,962,627	[17]
Estimated Fair Value		17,102,414	[16]	17,770,811	[17]
Mortgage Revenue Bonds Held In Trust [Member] | Columbia Gardens [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,252,320	[3]	12,351,218	[4]
Cumulative Unrealized Gain		499,675	[3]	807,633	[4]
Estimated Fair Value		12,751,995	[3]	13,158,851	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Companion at Thornhill Apartments [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,562,925	[3]	10,639,506	[4]
Cumulative Unrealized Gain		350,758	[3]	598,197	[4]
Estimated Fair Value		10,913,683	[3]	11,237,703	[4]
Mortgage Revenue Bonds Held In Trust [Member] | The Ivy Apartments [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		30,563,203	[1]	30,567,832	[2]
Cumulative Unrealized Gain		880,309	[1]	1,933,208	[2]
Estimated Fair Value		31,443,512	[1]	32,501,040	[2]
Mortgage Revenue Bonds Held In Trust [Member] | The Palms at Premier Park Apartment [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		17,733,956	[7]	17,872,527	[8]
Cumulative Unrealized Gain		182,998	[7]	427,099	[8]
Estimated Fair Value		17,916,954	[7]	18,299,626	[8]
Mortgage Revenue Bonds Held In Trust [Member] | The Park at Sondrio [Member] | Series 2022A [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		38,100,000	[1]	38,100,000	[2]
Cumulative Unrealized Gain		1,346,314	[1]	2,682,964	[2]
Estimated Fair Value		39,446,314	[1]	40,782,964	[2]
Mortgage Revenue Bonds Held In Trust [Member] | The Park at Vietti [Member] | Series 2022A [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		26,985,000	[1]	26,985,000	[2]
Cumulative Unrealized Gain		1,018,466	[1]	1,972,695	[2]
Estimated Fair Value		28,003,466	[1]	28,957,695	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Village at River's Edge [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,522,422	[3]	9,566,110	[4]
Cumulative Unrealized Gain		981,576	[3]	1,000,545	[4]
Estimated Fair Value		10,503,998	[3]	10,566,655	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Willow Run [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,082,152	[3]	12,180,025	[4]
Cumulative Unrealized Gain		492,032	[3]	817,941	[4]
Estimated Fair Value		12,574,184	[3]	12,997,966	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Wiindsor Shores Apartments [Member] | Series A [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		21,545,000	[1]	21,545,000	[2]
Cumulative Unrealized Gain		771,092	[1]	1,530,085	[2]
Estimated Fair Value		22,316,092	[1]	23,075,085	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Arbors at Hickory Ridge [Member] | TN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,326,690	[7]	10,417,646	[8]
Cumulative Unrealized Gain		1,341,180	[7]	1,805,985	[8]
Estimated Fair Value		11,667,870	[7]	12,223,631	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at Copperfield [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		13,297,878	[1]	13,378,386	[2]
Cumulative Unrealized Gain		492,717	[1]	983,586	[2]
Estimated Fair Value		13,790,595	[1]	14,361,972	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at the Crest [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		8,692,991	[7]	8,762,826	[8]
Cumulative Unrealized Gain		576,349	[7]	909,437	[8]
Estimated Fair Value		9,269,340	[7]	9,672,263	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at the Oaks [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,037,156	[7]	7,091,928	[8]
Cumulative Unrealized Gain		401,163	[7]	666,990	[8]
Estimated Fair Value		7,438,319	[7]	7,758,918	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at the Parkway [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,187,414	[5]	12,270,653	[6]
Cumulative Unrealized Gain		398,703	[5]	830,179	[6]
Estimated Fair Value		12,586,117	[5]	13,100,832	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at Wilcrest [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		5,039,627	[1]	5,070,137	[2]
Cumulative Unrealized Gain		186,730	[1]	313,010	[2]
Estimated Fair Value		5,226,357	[1]	5,383,147	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar at Wood Hollow [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		38,265,770	[1]	38,497,436	[2]
Cumulative Unrealized Gain		1,417,834	[1]	2,648,201	[2]
Estimated Fair Value		39,683,604	[1]	41,145,637	[2]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar in 09 [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,076,307	[7]	6,123,600	[8]
Cumulative Unrealized Gain		362,062	[7]	593,430	[8]
Estimated Fair Value		6,438,369	[7]	6,717,030	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar on the Boulevard [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		14,809,456	[7]	14,928,425	[8]
Cumulative Unrealized Gain		801,134	[7]	1,346,449	[8]
Estimated Fair Value		15,610,590	[7]	16,274,874	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Avistar on the Hills [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		4,817,793	[7]	4,855,291	[8]
Cumulative Unrealized Gain		274,645	[7]	470,520	[8]
Estimated Fair Value		5,092,438	[7]	5,325,811	[8]
Mortgage Revenue Bonds Held In Trust [Member] | Bruton Apartments [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		17,137,029	[3],[11]	17,220,941	[4],[12]
Cumulative Unrealized Loss		(25,276)	[3],[11]	(13,366)	[4],[12]
Estimated Fair Value		17,111,753	[3],[11]	17,207,575	[4],[12]
Mortgage Revenue Bonds Held In Trust [Member] | Concord at Gulfgate [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		18,078,705	[3]	18,190,721	[4]
Cumulative Unrealized Gain		1,117,426	[3]	1,807,038	[4]
Estimated Fair Value		19,196,131	[3]	19,997,759	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Concord at Little York [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		12,664,988	[3]	12,743,460	[4]
Cumulative Unrealized Gain		815,278	[3]	1,302,221	[4]
Estimated Fair Value		13,480,266	[3]	14,045,681	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Concord at Williamcrest [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		19,619,423	[3]	19,740,985	[4]
Cumulative Unrealized Gain		1,262,953	[3]	2,017,280	[4]
Estimated Fair Value		20,882,376	[3]	21,758,265	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Crossing at 1415 [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		7,036,653	[3]	7,082,698	[4]
Cumulative Unrealized Gain		284,274	[3]	565,843	[4]
Estimated Fair Value		7,320,927	[3]	7,648,541	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Decatur-Angle [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		21,531,128	[3],[11]	21,646,255	[4],[12]
Cumulative Unrealized Loss		(144,173)	[3],[11]	(16,674)	[4],[12]
Estimated Fair Value		21,386,955	[3],[11]	21,629,581	[4],[12]
Mortgage Revenue Bonds Held In Trust [Member] | Esperanza at Palo Alto [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		18,665,231	[3]	18,751,278	[4]
Cumulative Unrealized Gain		1,605,193	[3]	2,480,537	[4]
Estimated Fair Value		20,270,424	[3]	21,231,815	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Heights at 515 [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		6,442,177	[3]	6,484,332	[4]
Cumulative Unrealized Gain		334,677	[3]	602,199	[4]
Estimated Fair Value		6,776,854	[3]	7,086,531	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Heritage Square [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		10,113,831	[5]	10,186,405	[6]
Cumulative Unrealized Gain		302,992	[5]	606,579	[6]
Estimated Fair Value		10,416,823	[5]	10,792,984	[6]
Mortgage Revenue Bonds Held In Trust [Member] | Oaks at Georgetown [Member] | Series A [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,728,241	[3]	11,790,848	[4]
Cumulative Unrealized Gain		397,942	[3]	838,472	[4]
Estimated Fair Value		12,126,183	[3]	12,629,320	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Runnymede [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[15]			23,000,000
Cumulative Unrealized Gain	[15]			192,788
Estimated Fair Value	[15]			23,192,788
Mortgage Revenue Bonds Held In Trust [Member] | Southpark [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	11,167,919
Cumulative Unrealized Gain	[1]	1,132,081
Estimated Fair Value	[1]	12,300,000
Mortgage Revenue Bonds Held In Trust [Member] | 15 West Apartments [Member] | WA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,328,583	[3]	9,371,808	[4]
Cumulative Unrealized Gain		1,106,537	[3]	1,478,567	[4]
Estimated Fair Value		10,435,120	[3]	10,850,375	[4]
Mortgage Revenue Bonds Held In Trust [Member] | Aventine Apartments [Member] | WA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[1]	9,500,000
Cumulative Unrealized Gain	[1]	1,139,689
Estimated Fair Value	[1]	10,639,689
Mortgage Revenue Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		11,898,265		44,414,740
Cumulative Unrealized Gain		86,686		3,290,695
Cumulative Unrealized Loss				(60,926)
Estimated Fair Value		11,984,951		47,644,509
Mortgage Revenue Bonds [Member] | CCBA Senior Garden Apartments [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				3,757,268
Cumulative Unrealized Gain				158,840
Estimated Fair Value				3,916,108
Mortgage Revenue Bonds [Member] | Ocotillo Springs Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances	[18]			3,489,096
Cumulative Unrealized Loss	[18]			(59,805)
Estimated Fair Value	[18]			3,429,291
Mortgage Revenue Bonds [Member] | Ocotillo Springs Series A 1 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				499,117
Cumulative Unrealized Gain				95,386
Estimated Fair Value				594,503
Mortgage Revenue Bonds [Member] | Residency at Empire - Series BB-2 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				1,000,000
Estimated Fair Value				1,000,000
Mortgage Revenue Bonds [Member] | Solano Vista [Member] | Series A [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				2,611,955
Cumulative Unrealized Gain				338,125
Estimated Fair Value				2,950,080
Mortgage Revenue Bonds [Member] | Handsel Morgan Village Apartments [Member] | GA [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				2,150,000
Cumulative Unrealized Gain				300,188
Estimated Fair Value				2,450,188
Mortgage Revenue Bonds [Member] | Greens Property [Member] | Series B [Member] | NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				7,229,475
Cumulative Unrealized Gain				1,071,177
Estimated Fair Value				8,300,652
Mortgage Revenue Bonds [Member] | Provision Center 2014-1 [Member] | TN [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		365,042		926,475
Estimated Fair Value		365,042		926,475
Mortgage Revenue Bonds [Member] | Avistar at the Crest [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		714,902		718,332
Cumulative Unrealized Gain		26,684		49,845
Estimated Fair Value		741,586		768,177
Mortgage Revenue Bonds [Member] | Avistar at the Oaks [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		523,907		526,318
Cumulative Unrealized Gain		17,985		35,066
Estimated Fair Value		541,892		561,384
Mortgage Revenue Bonds [Member] | Avistar at the Parkway [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		122,441		122,701
Cumulative Unrealized Gain		14,175		19,352
Estimated Fair Value		136,616		142,053
Mortgage Revenue Bonds [Member] | Avistar in 09 [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		432,176		434,165
Cumulative Unrealized Gain		14,836		28,926
Estimated Fair Value		447,012		463,091
Mortgage Revenue Bonds [Member] | Avistar on the Boulevard [Member] | Series B [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		424,797		426,835
Cumulative Unrealized Gain		13,006		27,507
Estimated Fair Value		437,803		454,342
Mortgage Revenue Bonds [Member] | Runnymede [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances		9,315,000		9,390,000	[19]
Cumulative Unrealized Loss	[19]			(1,121)
Estimated Fair Value		$ 9,315,000		9,388,879	[19]
Mortgage Revenue Bonds [Member] | Southpark [Member] | TX [Member]
Schedule Of Available For Sale Securities [Line Items]
Cost Adjusted for Paydowns and Allowances				11,133,003
Cumulative Unrealized Gain				1,166,283
Estimated Fair Value				$ 12,299,286
[1] MRB held by Mizuho in a debt financing transaction, Note 13. MRB held by Mizuho in a debt financing transaction, Note 13. MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS IV, LLC (M45 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS III, LLC (M33 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 13. The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. MRB owned by ATAX TEBS II, LLC (M31 TEBS), Note 13 . The TEBS financing has contractual limitations on the Partnership’s ability to sell the MRB. As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for at least 12 months. MRB held by Barclays Capital Inc. in a debt financing transaction, Note 13. As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for less than 12 months. As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for less than 12 months. The Partnership has a remaining MRB funding commitment of approximately $ 23.2 million as of December 31, 2023. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining funding commitment outstanding as of December 31, 2023 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for more than 12 months. The Partnership has a remaining MRB funding commitment of approximately $ 14.5 million as of June 30, 2024. The MRB and the unfunded MRB commitment are accounted for as available-for-sale securities and reported at fair value. The reported unrealized loss includes the unrealized loss on the current MRB carrying value (based on current fair value) as well as the unrealized loss on the Partnership’s remaining funding commitment outstanding as of June 30, 2024 (also based on current fair value). The Partnership determined the unrealized loss is a result of increasing market interest rates and that the cumulative unrealized loss is not considered a credit loss. As of June 30, 2024, the MRB has been in an unrealized loss position for more than 12 months. MRB held by Barclays Capital Inc. in a debt financing transaction, Note 13. MRB held by Morgan Stanley in a debt financing transaction, Note 13. MRB held by Morgan Stanley in a debt financing transaction, Note 13. As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for more than 12 months. As of the date presented, the Partnership determined that the unrealized loss on the MRB is a result of increasing market interest rates and is not considered a credit loss. As of December 31, 2023, the MRB has been in an unrealized loss position for less than 12 months.

Mortgage Revenue Bonds - Sche_2

Mortgage Revenue Bonds - Schedule of Investments in MRBs (Parenthetical) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Remaining partnership commitment fund amount	$ 263,798,905
Mortgage Revenue Bond [Member] | Meadow Valley [Member]
Schedule Of Available For Sale Securities [Line Items]
Remaining partnership commitment fund amount	$ 14,500,000	$ 23,200,000

Mortgage Revenue Bonds - Additi

Mortgage Revenue Bonds - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Jan. 01, 2023
Schedule Of Available For Sale Securities [Line Items]
Allowance for credit losses				$ 5,900,000
Principal Acquired	$ 52,150,000		$ 100,445,000
Principal Outstanding at Date of Redemption	22,073,000
Mortgage Revenue Bond [Member]
Schedule Of Available For Sale Securities [Line Items]
Accrued interest receivable	5,100,000	$ 4,700,000
Brookstone [Member]
Schedule Of Available For Sale Securities [Line Items]
Realized a gain on sale of the Brookstone MRB	$ 1,000,000

Mortgage Revenue Bonds - Sche_3

Mortgage Revenue Bonds - Schedule of Terms of partnership's MRBs After Conversions (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Debt Securities, Available-for-Sale [Line Items]
Principal Acquired	$ 52,150,000	$ 100,445,000

Mortgage Revenue Bonds - Sche_4

Mortgage Revenue Bonds - Schedule of MRBs Acquisitions (Details)		6 Months Ended
		Jun. 30, 2024 USD ($) Unit	Jun. 30, 2023 USD ($) Unit
Schedule Of Available For Sale Securities [Line Items]
Initial Principal Funded | $		$ 52,150,000	$ 100,445,000
Residency at the Entrepreneur [Member] | MRB and Taxable MRB Commitments [Member] | Series J-5 [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[1]		February 2023
Units | Unit	[1]		200
Maturity Date	[1]		Apr. 01, 2025
Initial Principal Funded | $	[1]		$ 1,000,000
Residency at the Entrepreneur [Member] | MRB and Taxable MRB Commitments [Member] | Series J-5 [Member] | CA [Member] | SOFR [Member]
Schedule Of Available For Sale Securities [Line Items]
Interest Rate	[1],[2]		3.60%
Residency at the Mayer [Member] | MRB and Taxable MRB Commitments [Member] | Series M [Member] | Hollywood, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired	[3]	March 2024
Units | Unit	[3]	79
Maturity Date	[3]	Apr. 01, 2039
Initial Principal Funded | $	[3]	$ 11,500,000
Residency at the Mayer [Member] | MRB and Taxable MRB Commitments [Member] | Series M [Member] | Hollywood, CA [Member] | SOFR [Member]
Schedule Of Available For Sale Securities [Line Items]
Interest Rate	[3],[4]	3.60%
Woodington Gardens Apartments [Member] | MRB and Taxable MRB Commitments [Member] | Series A-1 [Member] | Baltimore, MD [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired		April 2024
Units | Unit		197
Maturity Date		May 01, 2029
Interest Rate		7.80%
Initial Principal Funded | $		$ 31,150,000
Aventine Apartments [Member] | MRB and Taxable MRB Commitments [Member] | Bellevue, WA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired		May 2024
Units | Unit		68
Maturity Date		Jun. 01, 2031
Interest Rate		7.68%
Initial Principal Funded | $		$ 9,500,000
Windsor Shores Apartments [Member] | MRB and Taxable MRB Commitments [Member] | Series A [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			January 2023
Units | Unit			176
Maturity Date			Feb. 01, 2030
Interest Rate			6.50%
Initial Principal Funded | $			$ 21,545,000
The Ivy Apartments [Member] | MRB and Taxable MRB Commitments [Member] | SC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			January 2023
Units | Unit			212
Maturity Date			Feb. 01, 2030
Interest Rate			6.50%
Initial Principal Funded | $			$ 30,500,000
Handsel Morgan Village Apartments [Member] | MRB and Taxable MRB Commitments [Member] | Buford, GA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April 2023
Units | Unit			45
Maturity Date			Mar. 01, 2041
Interest Rate			6.75%
Initial Principal Funded | $			$ 2,150,000
Maryalice Circle Apartments [Member] | MRB and Taxable MRB Commitments [Member] | Buford, GA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			April 2023
Units | Unit			98
Maturity Date			Mar. 01, 2041
Interest Rate			6.75%
Initial Principal Funded | $			$ 5,900,000
Village at Hanford Square [Member] | MRB and Taxable MRB Commitments [Member] | Series H [Member] | Hanford, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			May 2023
Units | Unit			100
Maturity Date			May 01, 2030
Interest Rate			6.65%
Initial Principal Funded | $			$ 10,400,000
Village Point [Member] | NJ [Member] | Mortgage Revenue Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Units | Unit			92
Village Point [Member] | MRB and Taxable MRB Commitments [Member] | NJ [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			May 2023
Units | Unit	[5]		120
Maturity Date			Jun. 01, 2030
Interest Rate			6.88%
Initial Principal Funded | $			$ 23,000,000
40rty on Colony [Member] | MRB and Taxable MRB Commitments [Member] | Series P [Member] | La Mesa, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Acquired			June 2023
Units | Unit			40
Maturity Date			Jun. 01, 2030
Interest Rate			7.05%
Initial Principal Funded | $			$ 5,950,000
[1] The Partnership has committed to provide funding for the Series J-5 MRB totaling $ 5.0 million. See Note 16. The interest rate is subject to an all-in floor of 3.87 %. The borrower re-allocated $ 11.5 million of previously provided funding from a taxable MRB to this new MRB during the acquisition and rehabilitation phase of the property. Upon stabilization of the property, the MRB will be partially repaid and the maximum balance of the MRB after stabilization will not exceed $ 5.0 million. The interest rate is subject to an all-in floor of 3.85 %. Upon stabilization of the property, the interest rate will reset to a fixed rate based on the SOFR index plus 3.50 % on or around the stabilization date. Village Point is a seniors housing property with 120 beds in 92 units.

Mortgage Revenue Bonds - Sche_5

Mortgage Revenue Bonds - Schedule of MRBs Acquisitions (Parenthetical) (Details)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($) Bed Unit
Schedule Of Available For Sale Securities [Line Items]
Floor rate	3.95%
Committed to funding amount	$ 417,639,233
Mortgage Revenue Bonds [Member] | Residency at the Entrepreneur [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Floor rate		3.87%
Mortgage Revenue Bonds [Member] | Village Point [Member] | NJ [Member]
Schedule Of Available For Sale Securities [Line Items]
Number of beds | Bed		120
Number of Units | Unit		92
Mortgage Revenue Bonds [Member] | Residency at the Mayer [Member] | Hollywood, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Floor rate	3.85%
Mortgage Revenue Bonds [Member] | Series M [Member] | Residency at the Mayer [Member] | Hollywood, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Maximum balance of the MRB after stabilization	$ 5,000,000
Partnership re-allocated funding of taxable MRB	$ 11,500,000
Mortgage Revenue Bonds [Member] | Series M [Member] | SOFR [Member] | Residency at the Mayer [Member] | Hollywood, CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Fixed interest rate	3.50%
Mortgage Revenue Bonds [Member] | Series J-5 [Member] | Residency at the Entrepreneur [Member] | CA [Member]
Schedule Of Available For Sale Securities [Line Items]
Commitment to provide maximum funding of taxable MRB		$ 5,000,000

Mortgage Revenue Bonds - Sche_6

Mortgage Revenue Bonds - Schedule of Terms of MRBSs upon Redemption (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) Unit	Jun. 30, 2024 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption		$ 22,073,000
Mortgage Revenue Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption	$ 8,493,040
Greens Property [Member] | Series A [Member] | Mortgage Revenue Bonds [Member] | Durham NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	February 2023
Units | Unit	168
Original Maturity Date	Oct. 01, 2047
Fixed Interest Rate	6.50%
Principal Outstanding at Date of Redemption	$ 7,579,000
Greens Property [Member] | Series B [Member] | Mortgage Revenue Bonds [Member] | Durham NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	February 2023
Units | Unit	168
Original Maturity Date	Oct. 01, 2047
Fixed Interest Rate	12%
Principal Outstanding at Date of Redemption	$ 914,040

Mortgage Revenue Bonds - Sche_7

Mortgage Revenue Bonds - Schedule of MRB Redeemed (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) Unit	Jun. 30, 2024 USD ($)
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption		$ 22,073,000
Mortgage Revenue Bonds [Member]
Schedule Of Available For Sale Securities [Line Items]
Principal Outstanding at Date of Redemption	$ 8,493,040
Mortgage Revenue Bonds [Member] | Greens Property [Member] | Series A [Member] | Durham NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	February 2023
Units | Unit	168
Original Maturity Date	Oct. 01, 2047
Interest Rate	6.50%
Principal Outstanding at Date of Redemption	$ 7,579,000
Mortgage Revenue Bonds [Member] | Greens Property [Member] | Series B [Member] | Durham NC [Member]
Schedule Of Available For Sale Securities [Line Items]
Month Redeemed	February 2023
Units | Unit	168
Original Maturity Date	Oct. 01, 2047
Interest Rate	12%
Principal Outstanding at Date of Redemption	$ 914,040

Mortgage Revenue Bonds - Sche_8

Mortgage Revenue Bonds - Schedule of MRB Sales (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) Unit	Jun. 30, 2023 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Principal Outstanding at Date of Redemption	$ 22,073,000
Mortgage Revenue Bonds [Member]
Debt Securities, Available-for-Sale [Line Items]
Principal Outstanding at Date of Redemption		$ 8,493,040
Mortgage Revenue Bonds [Member] | Bookstone [Member] | Waukegan, IL [Member]
Debt Securities, Available-for-Sale [Line Items]
Month Sold	May 2024
Units | Unit	168
Maturity Date	May 01, 2040
Interest Rate	5.45%
Principal Outstanding at Date of Redemption	$ 8,221,234

Governmental Issuer Loans - Sum

Governmental Issuer Loans - Summary of Partnership's GIL Investments (Details)		6 Months Ended		12 Months Ended
		Jun. 30, 2024 USD ($) Unit		Dec. 31, 2023 USD ($) Unit
Governmental Issuer Loans [Line Items]
Amortized Cost		$ 213,446,300		$ 221,653,300
Governmental Issuer Loans [Member] | TOB Trust [Member]
Governmental Issuer Loans [Line Items]
Units | Unit		1,539		1,627
Amortized Cost		$ 214,557,300		$ 222,947,300
Governmental Issuer Loans [Member] | Legacy Commons at Signal Hills [Member] | TOB Trust [Member] | St. Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Month Acquired	[1]	January 2021		January 2021
Units | Unit	[1]	247		247
Maturity Date	[1]	Aug. 01, 2024	[2]	Feb. 01, 2024	[3]
Current Interest Rate	[1]	8.41%		8.46%
Amortized Cost	[1]	$ 34,620,000		$ 34,620,000
Governmental Issuer Loans [Member] | Legacy Commons at Signal Hills [Member] | TOB Trust [Member] | SOFR [Member] | St. Paul, MN [Member]
Governmental Issuer Loans [Line Items]
Variable rate	[1]	3.07%	[4]	3.07%	[5]
Governmental Issuer Loans [Member] | Willow Place Apartments Supplemental [Member] | TOB Trust [Member] | McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		November 2023		November 2023
Maturity Date		Oct. 01, 2024	[2]	Oct. 01, 2024	[3]
Current Interest Rate		8.78%		8.76%
Amortized Cost		$ 1,500,000		$ 1,500,000
Governmental Issuer Loans [Member] | Willow Place Apartments Supplemental [Member] | TOB Trust [Member] | SOFR [Member] | McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Variable rate		3.45%	[4]	3.45%	[5]
Governmental Issuer Loans [Member] | Hope on Avalon [Member]
Governmental Issuer Loans [Line Items]
Maturity Date		Feb. 01, 2024
Governmental Issuer Loans [Member] | Hope on Avalon [Member] | TOB Trust [Member] | Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired				January 2021
Units | Unit				88
Maturity Date	[3]			Feb. 01, 2024
Current Interest Rate				7.62%
Amortized Cost				$ 23,390,000
Governmental Issuer Loans [Member] | Hope on Avalon [Member] | TOB Trust [Member] | SIFMA [Member] | Los Angeles, CA [Member]
Governmental Issuer Loans [Line Items]
Variable rate	[5]			3.75%
Governmental Issuer Loans [Member] | Osprey Village [Member] | TOB Trust [Member] | Kissimmee FL [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		July 2021	[1]	July 2021	[6]
Units | Unit		383	[1]	383	[6]
Maturity Date		Aug. 01, 2024	[1],[2]	Aug. 01, 2024	[3],[6]
Current Interest Rate		8.40%	[1]	8.38%	[6]
Amortized Cost		$ 60,000,000	[1]	$ 60,000,000	[6]
Governmental Issuer Loans [Member] | Osprey Village [Member] | TOB Trust [Member] | SOFR [Member] | Kissimmee FL [Member]
Governmental Issuer Loans [Line Items]
Variable rate		3.07%	[1],[4]	3.07%	[5],[6]
Governmental Issuer Loans [Member] | Willow Place Apartments [Member] | TOB Trust [Member] | McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		September 2021	[1]	September 2021	[6]
Units | Unit		182	[1]	182	[6]
Maturity Date		Oct. 01, 2024	[1],[2]	Oct. 01, 2024	[3],[6]
Current Interest Rate		8.63%	[1]	8.61%	[6]
Amortized Cost		$ 25,000,000	[1]	$ 25,000,000	[6]
Governmental Issuer Loans [Member] | Willow Place Apartments [Member] | TOB Trust [Member] | SOFR [Member] | McDonough, GA [Member]
Governmental Issuer Loans [Line Items]
Variable rate		3.30%	[1],[4]	3.30%	[5],[6]
Governmental Issuer Loans [Member] | Magnolia Heights [Member] | TOB Trust [Member] | Covington, GA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		June 2022	[1]	June 2022	[6]
Units | Unit		200	[1]	200	[6]
Maturity Date		Oct. 01, 2024	[1],[2]	Jul. 01, 2024	[3],[6]
Current Interest Rate		9.18%	[1]	9.16%	[6]
Amortized Cost		$ 20,400,000	[1]	$ 20,400,000	[6]
Governmental Issuer Loans [Member] | Magnolia Heights [Member] | TOB Trust [Member] | SOFR [Member] | Covington, GA [Member]
Governmental Issuer Loans [Line Items]
Variable rate		3.85%	[1],[4]	3.85%	[5],[6]
Governmental Issuer Loans [Member] | Poppy Grove I [Member] | TOB Trust [Member] | Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		September 2022	[1],[7]	September 2022	[6],[8]
Units | Unit		147	[1],[7]	147	[6],[8]
Maturity Date		Apr. 01, 2025	[1],[2],[7]	Apr. 01, 2025	[3],[6],[8]
Variable rate		6.78%	[1],[4],[7]	6.78%	[5],[6],[8]
Current Interest Rate		6.78%	[1],[7]	6.78%	[6],[8]
Amortized Cost		$ 27,846,000	[1],[7]	$ 19,846,000	[6],[8]
Governmental Issuer Loans [Member] | Poppy Grove II [Member] | TOB Trust [Member] | Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		September 2022	[1],[7]	September 2022	[6],[8]
Units | Unit		82	[1],[7]	82	[6],[8]
Maturity Date		Apr. 01, 2025	[1],[2],[7]	Apr. 01, 2025	[3],[6],[8]
Variable rate		6.78%	[1],[4],[7]	6.78%	[5],[6],[8]
Current Interest Rate		6.78%	[1],[7]	6.78%	[6],[8]
Amortized Cost		$ 12,541,300	[1],[7]	$ 9,541,300	[6],[8]
Governmental Issuer Loans [Member] | Poppy Grove III [Member] | TOB Trust [Member] | Elk Grove, CA [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		September 2022	[1],[7]	September 2022	[6],[8]
Units | Unit		158	[1],[7]	158	[6],[8]
Maturity Date		Apr. 01, 2025	[1],[2],[7]	Apr. 01, 2025	[3],[6],[8]
Variable rate		6.78%	[1],[4],[7]	6.78%	[5],[6],[8]
Current Interest Rate		6.78%	[1],[7]	6.78%	[6],[8]
Amortized Cost		$ 20,550,000	[1],[7]	$ 16,550,000	[6],[8]
Governmental Issuer Loans [Member] | Sandy Creek Apartments [Member] | TOB Trust [Member] | Bryan, TX [Member]
Governmental Issuer Loans [Line Items]
Month Acquired		August 2023	[1]	August 2023	[6]
Units | Unit		140	[1]	140	[6]
Maturity Date		Sep. 01, 2026	[1],[2]	Sep. 01, 2026	[3],[6]
Variable rate		7.83%	[1],[4],[9]	7.83%	[5],[6],[10]
Current Interest Rate		7.83%	[1]	7.83%	[6]
Amortized Cost		$ 12,100,000	[1]	$ 12,100,000	[6]
[1] The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19). The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The borrowers may elect to extend the maturity dates by six 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 0.25 % to 0.50 %. The variable index interest rate components are typically subject to floors that range from 0 % to 0.85 %. The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19). The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $ 3.8 million, $ 2.2 million, and $ 4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively. The interest rate will convert to a variable rate of Term SOFR + 2.80 % on February 1, 2025. The interest rate will convert to a variable rate of Term SOFR + 2.80 % on February 1, 2025.

Governmental Issuer Loans - S_2

Governmental Issuer Loans - Summary of Partnership's GIL Investments (Parenthetical) (Details) - Governmental Issuer Loans [Member] - USD ($) $ in Millions	Feb. 01, 2025	Jun. 30, 2024	Dec. 31, 2023
Floor Rate [Member] | Minimum [Member]
Governmental Issuer Loans [Line Items]
Variable rate		0.25%	0%
Floor Rate [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Variable rate		0.50%	0.85%
Poppy Grove I [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount		$ 3.8	$ 3.8
Poppy Grove II [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount		2.2	2.2
Poppy Grove III [Member] | Maximum [Member]
Governmental Issuer Loans [Line Items]
Partnership subordinate loan amount		$ 4.2	$ 4.2
SOFR [Member] | Sandy Creek Apartments [Member] | Forecast [Member]
Governmental Issuer Loans [Line Items]
Variable rate	2.80%

Governmental Issuer Loans - Add

Governmental Issuer Loans - Additional Information (Details)	1 Months Ended
	Jun. 30, 2024 USD ($) Entities Property	Feb. 29, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) Property	Jan. 01, 2023 USD ($)
Governmental Issuer Loans [Line Items]
Number of Variable Interest Entities | Property	30			33
Allowance for credit losses					$ 5,900,000
Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Accrued interest receivable	$ 1,400,000			$ 1,500,000
Number of Variable Interest Entities | Entities	2
Outstanding principal	$ 133,200,000
Property Loans [Member]
Governmental Issuer Loans [Line Items]
Outstanding principal	6,800,000
Magnolia Heights [Member]
Governmental Issuer Loans [Line Items]
Partnership recognized loan fee	20,000
Magnolia Heights [Member] | Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Partnership recognized loan fee	$ 51,000
Oasis at Twin Lakes [Member] | Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Partnetship received proceeds			$ 34,100,000
Percentage of collection from notes receivable including accrued interest			100%
Scharbauer Flats Apartments [Member]
Governmental Issuer Loans [Line Items]
Partnership recognized loan fee			$ 33,000
Extension fees received			$ 100,000
Scharbauer Flats Apartments [Member] | Governmental Issuer Loans [Member]
Governmental Issuer Loans [Line Items]
Partnership recognized loan fee		$ 87,000
Loan maturity date			Jan. 01, 2024

Governmental Issuer Loans - Sch

Governmental Issuer Loans - Schedule of Principal and Accrued Interest Paid (Details) - Governmental Issuer Loans [Member] - USD ($)	1 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024
Oasis at Twin Lakes [Member]
Governmental Issuer Loans [Line Items]
Principal Proceeds	$ 34,100,000
Hope on Avalon [Member]
Governmental Issuer Loans [Line Items]
Month Redeemed		2024-01
Principal Proceeds		$ 23,390,000

Property Loans - Summary of Par

Property Loans - Summary of Partnership's Property Loans, Net of Allowances for Credit Losses (Details) - USD ($)		6 Months Ended		12 Months Ended
		Jun. 30, 2024		Dec. 31, 2023		Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 63,306,149		$ 122,556,204
Asset-Specific Allowance for Credit Losses		(495,000)		(495,000)
Property Loan Principal, net of allowance		62,811,149		122,061,204
The 50/50 MF Property [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		7,100,000		6,000,000
Property Loan Principal, net of allowance						$ 4,800,000
Live 929 Apartments [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		495,000		495,000
Senior Construction Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		14,906,538	[1]	81,585,296	[2]
Property Loan Principal, net of allowance		14,906,538	[1]	81,585,296	[2]
Senior Construction Financing [Member] | Magnolia Heights [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		8,118,546	[1]	8,118,546	[2]
Property Loan Principal, net of allowance		$ 8,118,546	[1]	$ 8,118,546	[2]
Maturity Date		Oct. 01, 2024	[1]	Jul. 01, 2024	[2]
Senior Construction Financing [Member] | Magnolia Heights [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate		3.85%	[1]	3.85%	[2]
Senior Construction Financing [Member] | Sandy Creek Apartments [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 6,787,992	[1]	$ 2,419,876	[2]
Property Loan Principal, net of allowance		$ 6,787,992	[1]	$ 2,419,876	[2]
Maturity Date		Sep. 01, 2026	[1]	Sep. 01, 2026	[2]
Interest Rate		8.63%	[1],[3]	8.63%	[2],[4]
Senior Construction Financing [Member] | Legacy Commons at Signal Hills [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance	[2]			$ 32,233,972
Property Loan Principal, net of allowance	[2]			$ 32,233,972
Maturity Date	[2]			Feb. 01, 2024
Senior Construction Financing [Member] | Legacy Commons at Signal Hills [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.07%
Senior Construction Financing [Member] | Osprey Village [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance	[2]			$ 14,998,296
Property Loan Principal, net of allowance	[2]			$ 14,998,296
Maturity Date	[2]			Aug. 01, 2024
Senior Construction Financing [Member] | Osprey Village [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.07%
Senior Construction Financing [Member] | Osprey Village Supplemental [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance	[2]			$ 4,600,000
Property Loan Principal, net of allowance	[2]			$ 4,600,000
Maturity Date	[2]			Aug. 01, 2024
Senior Construction Financing [Member] | Osprey Village Supplemental [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.22%
Senior Construction Financing [Member] | Willow Place Apartments [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance	[2]			$ 18,875,606
Property Loan Principal, net of allowance	[2]			$ 18,875,606
Maturity Date	[2]			Oct. 01, 2024
Senior Construction Financing [Member] | Willow Place Apartments [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.30%
Senior Construction Financing [Member] | Willow Place Apartments Supplemental [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance	[2]			$ 339,000
Property Loan Principal, net of allowance	[2]			$ 339,000
Maturity Date	[2]			Oct. 01, 2024
Senior Construction Financing [Member] | Willow Place Apartments Supplemental [Member] | SOFR [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest Rate	[2]			3.45%
Mezzanine Financing [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 40,795,000
Property Loan Principal, net of allowance		40,795,000
Mezzanine Financing [Member] | So La Impact Opportunity Zone Fund [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		33,545,000	[5]	$ 34,045,000	[6]
Property Loan Principal, net of allowance		$ 33,545,000		$ 34,045,000	[6]
Maturity Date		Dec. 30, 2024	[5]	Dec. 30, 2024	[6]
Interest Rate		7.875%	[5]	7.875%	[6]
Mezzanine Financing [Member] | The Centurion Foundation [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 7,250,000
Property Loan Principal, net of allowance		$ 7,250,000
Maturity Date		Jun. 15, 2039
Interest Rate		10.50%
Other [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 7,604,611		$ 6,925,908
Asset-Specific Allowance for Credit Losses		(495,000)		(495,000)
Property Loan Principal, net of allowance		7,109,611		6,430,908
Other [Member] | The 50/50 MF Property [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		7,109,611		5,977,314
Property Loan Principal, net of allowance		$ 7,109,611		$ 5,977,314
Maturity Date		Mar. 11, 2048		Mar. 11, 2048
Interest Rate		9%		9%
Other [Member] | Avistar (February 2013 Portfolio) [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance				$ 201,972
Property Loan Principal, net of allowance				$ 201,972
Maturity Date				Jun. 26, 2024
Interest Rate				12%
Other [Member] | Avistar (June 2013 Portfolio) [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance				$ 251,622
Property Loan Principal, net of allowance				$ 251,622
Maturity Date				Jun. 26, 2024
Interest Rate				12%
Other [Member] | Live 929 Apartments [Member]
Accounts Notes And Loans Receivable [Line Items]
Property loan receivable, outstanding balance		$ 495,000		$ 495,000
Asset-Specific Allowance for Credit Losses		$ (495,000)		$ (495,000)
Maturity Date		Jul. 31, 2049		Jul. 31, 2049
Interest Rate		8%		8%
[1] The property loans are held in trust in connection with TOB trust financings (Note 13). 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 property loans are held in trust in connection with TOB trust financings (Note 13) with the exception of the Osprey Village Supplemental and Willow Place Apartments Supplemental property loans. 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 %. The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. The property loan is held in trust in connection with a TOB trust financing (Note 13). The property loan is held in trust in connection with a TOB trust financing (Note 13).

Property Loans - Summary of P_2

Property Loans - Summary of Partnership's Property Loans, Allowances for Credit Losses (Parenthetical) (Details)	Feb. 01, 2025	Dec. 31, 2023
Osprey Village Supplemental and Willow Place Apartments [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate		0%
Osprey Village Supplemental and Willow Place Apartments [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Floor interest rate		0.50%
Senior Construction Financing [Member] | SOFR [Member] | Scenario Forecast [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Variable rate	3.35%

Property Loans - Additional Inf

Property Loans - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property Loans Net Of Loan Loss Allowance [Line Items]
Principal payments received on property loans					$ 72,776,788	$ 48,305,691
Advanced additional funds					13,526,733	17,839,242
Other interest income			$ 2,070,487	$ 4,646,347	5,074,325	9,056,012
Property Loans [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Accrued interest receivable	$ 344,000		$ 344,000		$ 344,000		$ 1,700,000
The Centurion Foundation [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Principal payments received on property loans	7,300,000
Greens Property [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Principal payments received on property loans						850,000
Accrued interest redemption on notes receivable						1,600,000
Scharbauer Flats Apartments [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Principal payments received on property loans						10,773,236
Partnership recognized loan fee		$ 33,000
Magnolia Heights [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Principal payments received on property loans						$ 2,181,454
Partnership recognized loan fee	$ 20,000

Property Loans - Schedule of Pr

Property Loans - Schedule of Property Loans Paid Down or Redeemed (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Property Loans Net Of Loan Loss Allowance [Line Items]
Principal Proceeds	$ 72,776,788	$ 48,305,691
Principal Outstanding at Date of Redemption	$ 22,073,000
Legacy Commons at Signal Hills [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-02
Principal Proceeds	$ 32,233,972
Osprey Village [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-02
Principal Proceeds	$ 14,998,296
Osprey Village Supplemental [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-02
Principal Proceeds	$ 4,600,000
Willow Place Apartments [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-02
Principal Proceeds	$ 18,875,606
Willow Place Apartments Supplemental [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-02
Principal Proceeds	$ 1,115,320
SoLa Impact Opportunity Zone Fund [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-03
Month Redeemed		2023-05
Principal Proceeds	$ 500,000	$ 3,790,000
Avistar (February 2013 Portfolio) [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-05
Principal Proceeds	$ 201,972
Avistar (June 2013 Portfolio) [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Repaid	2024-05
Principal Proceeds	$ 251,622
Greens Property [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Redeemed		2023-02
Principal Proceeds		$ 850,000
Scharbauer Flats [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Redeemed		2023-02
Principal Proceeds		$ 10,773,236
Centennial Crossings [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Redeemed		2023-03
Principal Proceeds		$ 6,692,344
Magnolia Heights [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Redeemed		2023-06
Principal Proceeds		$ 2,181,454
Oasis at Twin Lakes [Member]
Property Loans Net Of Loan Loss Allowance [Line Items]
Month Redeemed		2023-06
Principal Proceeds		$ 24,018,657

Investments in Unconsolidated_3

Investments in Unconsolidated Entities - Summary of Investments in Unconsolidated Entities (Details)		6 Months Ended
		Jun. 30, 2024 USD ($) Unit	Dec. 31, 2023 USD ($)
Schedule Of Equity Method Investments [Line Items]
Carrying Value | $		$ 157,940,664	$ 136,653,246
Vantage At Tomball [Member] | Tomball TX [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		288
Month Commitment Executed		August 2020
Construction Completion Date		2022-04
Carrying Value | $		$ 14,199,870	13,235,090
Vantage At Hutto | Hutto T X | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		288
Month Commitment Executed		December 2021
Construction Completion Date		2023-12
Carrying Value | $		$ 14,573,715	13,908,660
Vantage at Loveland [Member] | Loveland, CO [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		288
Month Commitment Executed		April 2021
Carrying Value | $		$ 23,954,586	20,464,906
Vantage at Helotes [Member] | Helotes, TX [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		288
Month Commitment Executed		May 2021
Construction Completion Date		2022-11
Carrying Value | $		$ 15,090,681	15,090,681
Vantage at Fair Oaks [Member] | Boerne, TX [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		288
Month Commitment Executed		September 2021
Construction Completion Date		2023-05
Carrying Value | $		$ 13,535,176	12,996,316
Vantage at McKinney Falls [Member] | McKinney Falls, TX [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		288
Month Commitment Executed		December 2021
Carrying Value | $		$ 15,024,657	13,131,272
Freestone At Greeley [Member] | Greeley, CO [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		296
Carrying Value | $		$ 6,143,765	5,346,007
Freestone At Cresta Bella [Member] | San Antonio, TX [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		296
Month Commitment Executed		February 2023
Carrying Value | $		$ 18,003,283	17,325,494
Valage Senior Living Carson Valley [Member] | Minden, NV [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		88
Valage Senior Living Carson Valley [Member] | Minden, NV [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit	[1]	102
Month Commitment Executed		February 2023
Carrying Value | $	[1]	$ 8,839,675	8,608,322
The Jessam At Hays Farms [Member] | Huntsville, AL [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		318
Month Commitment Executed		July 2023
Carrying Value | $		$ 17,090,224	7,518,717
Freestone Greenville [Member] | Greenville TX [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		300
Month Commitment Executed		April 2024
Carrying Value | $		$ 7,680,571	5,366,551
Freestone Ladera [Member] | Ladera TX [Member] | Current Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit		288
Carrying Value | $		$ 3,804,461	$ 3,661,230
[1] Valage Senior Living Carson Valley is a seniors housing property with 102 beds in 88 units.

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Summary of Investments in Unconsolidated Entities - (Parenthetical) (Details) - Valage Senior Living Carson Valley [Member] - Minden, NV [Member]	Jun. 30, 2024 Bed Unit
Schedule of Equity Method Investments [Line Items]
Number of beds | Bed	102
Number of Units | Unit	88

Investments in Unconsolidated_5

Investments in Unconsolidated Entities - Summary of Sales Information of Partnership Investment in Unconsolidated Entities (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Unit	Jun. 30, 2023 USD ($) Unit
Schedule Of Equity Method Investments [Line Items]
Gross Proceeds to the Partnership			$ 56,986	$ 47,719,594
Investment Income from sale of properties				2,309,404
Gain (loss) on Sale	$ 6,986	$ 7,326,084	$ 56,986	$ 22,693,013
Omaha, NE [Member] | Vantage At Stone Creek [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				294
Month Sold				2023-01
Gross Proceeds to the Partnership				$ 14,689,244
Investment Income from sale of properties				108,295
Gain (loss) on Sale				$ 9,114,980
Omaha, NE [Member] | Vantage At Coventry [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit			294	294
Month Sold				2023-01
Gross Proceeds to the Partnership			$ 50,000	$ 13,220,218
Investment Income from sale of properties				135,501
Gain (loss) on Sale			$ 50,000	$ 6,258,133
Murfreesboro, TN [Member] | Vantage At Murfreesboro [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288
Gross Proceeds to the Partnership				$ (6,184)
Gain (loss) on Sale				$ (6,184)
San Antonio, TX [Member] | Vantage At O'Connor [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288
Gross Proceeds to the Partnership				$ (11,744)
Gain (loss) on Sale				$ (11,744)
San Antonio, TX [Member] | Vantage At Westover Hills [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit			288
Gross Proceeds to the Partnership			$ 6,986
Gain (loss) on Sale			$ 6,986
Conroe TX [Member] | Vantage At Conroe [Member]
Schedule Of Equity Method Investments [Line Items]
Units | Unit				288
Month Sold				2023-06
Gross Proceeds to the Partnership				$ 19,828,060
Investment Income from sale of properties				2,065,608
Gain (loss) on Sale				$ 7,337,828

Investments in Unconsolidated_6

Investments in Unconsolidated Entities - Summary of Sales Information of Partnership Investments in Unconsolidated Entities - (Parenthetical) (Details) - USD ($)		1 Months Ended
	Jan. 31, 2024	May 31, 2024	May 31, 2023	Feb. 28, 2023
Murfreesboro, TN [Member] | Vantage At Murfreesboro [Member]
Schedule of Equity Method Investments [Line Items]
Cash received/sales proceeds returned				$ 6,200
San Antonio, TX [Member] | Vantage At O'Connor [Member]
Schedule of Equity Method Investments [Line Items]
Cash received/sales proceeds returned			$ 12,000
San Antonio, TX [Member] | Vantage At Westover Hills [Member]
Schedule of Equity Method Investments [Line Items]
Cash received/sales proceeds returned		$ 7,000
Omaha, NE [Member] | Vantage At Stone Creek [Member]
Schedule of Equity Method Investments [Line Items]
Cash received/sales proceeds returned	$ 50,000

Investments in Unconsolidated_7

Investments in Unconsolidated Entities - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Feb. 28, 2023
Schedule Of Equity Method Investments [Line Items]
Partnership advanced funds	$ 5.8
Freestone at Greeley [Member]
Schedule Of Equity Method Investments [Line Items]
Equity commitment		$ 8.2

Investments in Unconsolidated_8

Investments in Unconsolidated Entities - Summary of Partnership's Investments in Unconsolidated Entities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Property revenues	$ 4,411,360	$ 3,272,517	$ 8,196,677	$ 7,021,960
Gain on sale of property		17,995,170		56,099,503
Net income (loss)	$ (3,025,880)	$ 16,950,286	$ (4,150,053)	$ 54,693,224

Real Estate Assets - Real Estat

Real Estate Assets - Real Estate Assets Owned by Partnership (Details) - USD ($)		Jun. 30, 2024	Dec. 31, 2023
Real Estate [Line Items]
Carrying Value		$ 4,716,140	$ 4,716,140
Net real estate assets		4,716,140	4,716,140
Vantage at San Marcos [Member] | San Marcos TX [Member]
Real Estate [Line Items]
Land and Land Improvements	[1]	2,660,615	2,660,615
Buildings and Improvements	[1]	946,043	946,043
Carrying Value	[1]	3,606,658	3,606,658
Land Held for Development [Member]
Real Estate [Line Items]
Land and Land Improvements	[2]	1,109,482	1,109,482
Carrying Value	[2]	$ 1,109,482	$ 1,109,482
[1] The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 3 for further information. Land held for development consists of land and development costs for a parcel of land in Richland County, SC.

Real Estate Assets - Additional

Real Estate Assets - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2023
Real Estate [Line Items]
Gain on sale of real assets			$ 17,995,170	$ 56,099,503
Land Held for Development [Member] | Omaha, NE [Member]
Real Estate [Line Items]
Proceed sale of real assets		$ 442,000
The Suites on Paseo MF Property [Member]
Real Estate [Line Items]
Gain on sale of real assets	$ 64,000

Real Estate Assets - Schedule O

Real Estate Assets - Schedule Of Partnership Sold Net Income Related to Mf Property (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
The 50/50 MF Property [Member]
Real Estate [Line Items]
Net income	$ 98,276	$ 327,188

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Other Assets [Abstract]
Deferred financing costs, net	$ 1,044,672	$ 850,726
Derivative instruments at fair value	9,679,247	5,254,663
Taxable mortgage revenue bonds, at fair value	15,926,321	21,460,288
Taxable governmental issuer loans	3,000,000	13,573,000
Allowance for credit losses	(36,000)	(77,000)
Taxable governmental issuer loans, net	2,964,000	13,496,000
Bond purchase commitment, at fair value	46,238	197,788
Other assets	1,377,476	1,935,005
Total other assets	$ 31,037,954	$ 43,194,470

Other Assets - Additional Infor

Other Assets - Additional Information (Details) $ in Millions	Jun. 30, 2024 USD ($)
Taxable MRBs and Taxable GILs [Member] | TOB Trust [Member]
Other Assets [Line Items]
Assets held in trust	$ 19.5

Other Assets - Summary of Taxab

Other Assets - Summary of Taxable MRBs and and GILs Acquired (Details)		6 Months Ended
		Jun. 30, 2024 USD ($) Unit	Jun. 30, 2023 USD ($)
Governmental Issuer Loans [Line Items]
Principal Outstanding at Date of Redemption		$ 22,073,000
Taxable MRB, Total Commitment			$ 17,155,000
Mortgage Revenue Bonds [Member] | Village at Hanford Square [Member] | Series H-T [Member]
Governmental Issuer Loans [Line Items]
Month Redeemed			2023-05
Date Committed			2023-05
Original Maturity Date			May 01, 2030
Taxable MRB, Initial Principal Funding			$ 1,000,000
Taxable MRB, Total Commitment			$ 10,400,000
Mortgage Revenue Bonds [Member] | Forty on Colony [Member] | Series P-T [Member]
Governmental Issuer Loans [Line Items]
Month Redeemed			2023-06
Date Committed			2023-06
Original Maturity Date			Jun. 01, 2030
Taxable MRB, Initial Principal Funding			$ 1,100,000
Taxable MRB, Total Commitment			$ 5,950,000
Mortgage Revenue Bonds [Member] | Live 929 Apartments - Series 2022B [Member]
Governmental Issuer Loans [Line Items]
Month Redeemed			2023-01
Date Committed			2023-01
Original Maturity Date			Feb. 01, 2030
Taxable MRB, Initial Principal Funding			$ 805,000
Taxable MRB, Total Commitment			$ 805,000
Mortgage Revenue Bonds [Member] | Residency at the Mayer Series A-T [Member]
Governmental Issuer Loans [Line Items]
Month Redeemed	[1]	2024-03
Property Location	[1]	Hollywood, CA
Units | Unit	[1]	79
Date Committed	[1]	2024-03
Original Maturity Date	[1]	Oct. 01, 2024
Principal Outstanding at Date of Redemption	[1]	$ 11,500,000
Mortgage Revenue Bonds [Member] | Residency at the Mayer Series A-T [Member] | SOFR [Member]
Governmental Issuer Loans [Line Items]
Interest Rate	[1],[2]	3.70%
Mortgage Revenue Bonds [Member] | Woodington Gardens Apartments - Series A-2 [Member]
Governmental Issuer Loans [Line Items]
Month Redeemed	[1]	2024-04
Property Location	[1]	Baltimore, MD
Units | Unit	[1]	197
Date Committed	[1]	2024-04
Original Maturity Date	[1]	May 01, 2029
Interest Rate	[1],[2]	7.80%
Taxable MRB, Initial Principal Funding	[1]	$ 2,577,000
Governmental Issuer Loans [Member] | Hope On Avalon [Member]
Governmental Issuer Loans [Line Items]
Month Redeemed		2024-01
Property Location		Los Angeles, CA
Units | Unit		88
Date Committed		2024-01
Original Maturity Date		Feb. 01, 2024
Principal Outstanding at Date of Redemption		$ 10,573,000
Governmental Issuer Loans [Member] | Hope On Avalon [Member] | SOFR [Member]
Governmental Issuer Loans [Line Items]
Interest Rate		3.55%
[1] The borrower re-allocated $ 11.5 million of previously provided funding from a taxable MRB to a new MRB during the acquisition and rehabilitation phase of the property. The interest rate is subject to an all-in floor of 3.95 %.

Other Assets - Summary of Tax_2

Other Assets - Summary of Taxable MRBs Acquired (Parenthetical) (Details)	Jun. 30, 2024 USD ($)
Governmental Issuer Loans [Line Items]
Floor rate	3.95%
Committed to funding amount	$ 417,639,233
Mortgage Revenue Bonds [Member]
Governmental Issuer Loans [Line Items]
Borrower re-allocated previously provided funding	$ 11,500,000

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary of Changes in Partnership's Allowance for Credit Losses (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		$ 3,291,000	$ 5,899,000	$ 4,097,000	$ 495,000
Current provision for expected credit losses		189,000	(774,000)	(617,000)	(1,319,000)
Recovery of prior credit loss				(34,500)	(34,312)
Cumulative-effect adjustment upon adoption					5,949,000
Balance, end of period		3,480,000	5,125,000	3,480,000	5,125,000
MRB and taxable MRB investments [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		9,892,924	9,961,924	9,910,079	9,978,891
Current provision for expected credit losses	[1]			(169,308)
Write-offs	[1]	(5,542,921)		(5,542,921)
Recovery of prior credit loss	[2]	(17,345)	(17,345)	(34,500)	(34,312)
Balance, end of period	[3]	4,163,350	9,944,579	4,163,350	9,944,579
Governmental Issuer Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		1,166,000	2,080,000	1,294,000	0
Current provision for expected credit losses		(55,000)	(243,000)	(183,000)	(308,000)
Cumulative-effect adjustment upon adoption					2,145,000
Balance, end of period		1,111,000	1,837,000	1,111,000	1,837,000
Taxable Governmental Issuer Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		41,000	89,000	77,000	0
Current provision for expected credit losses		(5,000)	6,000	(41,000)	16,000
Cumulative-effect adjustment upon adoption					79,000
Balance, end of period		36,000	95,000	36,000	95,000
Property Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		1,628,000	2,450,000	2,048,000	495,000
Current provision for expected credit losses		320,000	(215,000)	(100,000)	(368,000)
Cumulative-effect adjustment upon adoption					2,108,000
Balance, end of period		1,948,000	2,235,000	1,948,000	2,235,000
Unfunded Commitments [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance, beginning of period		456,000	1,280,000	678,000	0
Current provision for expected credit losses		(71,000)	(322,000)	(293,000)	(659,000)
Cumulative-effect adjustment upon adoption					1,617,000
Balance, end of period		$ 385,000	$ 958,000	$ 385,000	$ 958,000
[1] In connection with the final settlement of the bankruptcy estate of the Provision Center 2014-1 MRB in July 2024, the Partnership recovered approximately $ 169,000 of its previously recognized allowance for credit loss and the remainder of the allowance associated with the MRB was written off. The Partnership compared the present value of cash flows expected to be collected to the amortized cost basis of the Live 929 Apartments Series 2022A MRB, which indicated a recovery of value. As the recovery was identified prior to the effective date of the CECL standard, the Partnership will accrete the recovery of prior credit loss into investment income over the term of the MRB. The allowance for credit losses as of June 30, 2024 was related to the Live 929 Apartments – 2022A MRB. The allowance for credit losses as of June 30, 2023 was related to the Provision Center 2014-1 MRB and the Live 929 Apartments – 2022A MRB

Allowances of Credit Loss - Sum

Allowances of Credit Loss - Summary of Changes in Partnership's Allowance for Credit Losses (Parenthetical) (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Recovery of prior credit loss		$ 34,500	$ 34,312
MRB [Member] | Subsequent Event [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Recovery of prior credit loss	$ 169,000

Allowance for Credit Losses - A

Allowance for Credit Losses - Additional Information (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2022 USD ($)	Jun. 30, 2024 USD ($) Loan	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Loan	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Jan. 01, 2023 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses							$ 5,900,000
Partnerships carrying percentage value							0.85%
Provision for credit losses		$ 189,000	$ (774,000)	$ (617,000)	$ (1,319,000)
Property loans outstanding principal		63,306,149		63,306,149		$ 122,556,204
Property loans, net		62,811,149		62,811,149		122,061,204
Live 929 Apartments [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses							$ 495,000
Property loans outstanding principal		495,000		495,000		495,000
The 50/50 MF Property [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Property loans outstanding principal		$ 7,100,000		$ 7,100,000		$ 6,000,000
Ownership interest sold	100%
Property loans, net	$ 4,800,000
Property Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans on nonaccrual status | Loan		2		2
Provision for credit losses		$ 320,000	$ (215,000)	$ (100,000)	$ (368,000)

Allowance for Credit Losses -_2

Allowance for Credit Losses - Summary of Partnerships Carrying Value by Origination Year Grouped by Risk Rating (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 7,250,000	$ 27,868,254
2023	21,430,000	222,178,160
2022	222,810,457	232,668,300
2021	119,620,000
2020		495,000
Prior	495,000	453,594
Total	371,605,457	483,663,308
Governmental Issuer Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024		13,600,000
2023	13,600,000	66,337,300
2022	81,337,300	143,010,000
2021	119,620,000
Total	214,557,300	222,947,300
Governmental Issuer Loans [Member] | Performing [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024		13,600,000
2023	13,600,000	66,337,300
2022	81,337,300	143,010,000
2021	119,620,000
Total	214,557,300	222,947,300
Taxable Governmental Issuer Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023		3,000,000
2022	3,000,000	10,573,000
Total	3,000,000	13,573,000
Taxable Governmental Issuer Loans [Member] | Performing [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2023		3,000,000
2022	3,000,000	10,573,000
Total	3,000,000	13,573,000
Property Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024	7,250,000	7,358,876
2023	6,787,992	48,140,860
2022	48,773,157	66,107,874
2020		495,000
Prior	495,000	453,594
Total	63,306,149	122,556,204
Property Loans [Member] | Performing [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024	7,250,000	7,358,876
2023	6,787,992	48,140,860
2022	48,773,157	66,107,874
Prior	0	453,594
Total	62,811,149	122,061,204
Property Loans [Member] | Nonperforming [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2020		495,000
Prior	495,000
Total	495,000	495,000
Unfunded Commitments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024		6,909,378
2023	1,042,008	104,700,000
2022	89,700,000	12,977,426
Total	90,742,008	124,586,804
Unfunded Commitments [Member] | Performing [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2024		6,909,378
2023	1,042,008	104,700,000
2022	89,700,000	12,977,426
Total	$ 90,742,008	$ 124,586,804

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Liabilities - Summary of Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accounts payable	$ 1,053,755	$ 1,518,267
Accrued expenses	3,757,255	4,104,945
Accrued interest expense	7,700,825	7,935,327
Deferred gain on sale of property	6,596,622	6,596,622
Reserve for credit losses on unfunded commitments	385,000	678,000
Derivative instruments at fair value	418,075	705,694
Other liabilities	1,303,703	1,419,233
Total accounts payable, accrued expenses and other liabilities	$ 21,215,235	$ 22,958,088

Secured Line of Credit - Summar

Secured Line of Credit - Summary of Secured Line of Credit (Details) - Secured Line Of Credit Facility [Member] - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2024		Dec. 31, 2023
Line of Credit Facility [Line Items]
Lines of credit	$ 41,250,000		$ 33,400,000
Total Commitment	100,000,000		90,000,000
Bank United General [Member]
Line of Credit Facility [Line Items]
Lines of credit	26,500,000		16,500,000
Total Commitment	$ 50,000,000		$ 40,000,000
Commitment Maturity	2025-06	[1]	2025-06	[2]
Variable / Fixed	Variable	[3]	Variable	[4]
Reset Frequency	Monthly		Monthly
Line of credit facility, interest rate during period	8.83%		8.85%
Bankers Trust Acquisition [Member]
Line of Credit Facility [Line Items]
Lines of credit	$ 14,750,000		$ 16,900,000
Total Commitment	$ 50,000,000		$ 50,000,000
Commitment Maturity	2025-06	[5]	2024-06	[6]
Variable / Fixed	Variable	[7]	Variable	[8]
Reset Frequency	Monthly		Monthly
Line of credit facility, interest rate during period	7.83%		7.85%
[1] The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25 % extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders. The variable rate is equal to SOFR + 3.50 %, subject to an all-in floor of 3.75 %. The variable rate is equal to SOFR + 3.50 %, subject to an all-in floor of 3.75 %. The Partnership has a one-year extension option subject to certain conditions and payment of a $ 25,000 extension fee. The Partnership has two one-year extension options subject to certain conditions and payment of a $ 25,000 extension fee for each extension. The variable rate is equal to 2.50 % plus a variable component based on the Term SOFR. The variable rate is equal to 2.50 % plus a variable component based on the Term SOFR.

Secured Line of Credit - Summ_2

Secured Line of Credit - Summary of Secured Line of Credit (Parenthetical) (Details) - Secured Line Of Credit Facility [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) Extension	Dec. 31, 2023 USD ($) Extension
Bank United General [Member]
Line of Credit Facility [Line Items]
Debt instrument number of extensions	2	2
Debt instrument extended maturity period	1 year	1 year
Payment of extension fee percentage	0.25%	0.25%
Bank United General [Member] | SOFR [Member]
Line of Credit Facility [Line Items]
Debt instrument variable rate	3.50%	3.50%
Floor rate	3.75%	3.75%
Bankers Trust Acquisition [Member]
Line of Credit Facility [Line Items]
Debt instrument number of extensions		2
Debt instrument extended maturity period	1 year	1 year
Payment of extension fee | $	$ 25,000	$ 25,000
Bankers Trust Acquisition [Member] | SOFR [Member]
Line of Credit Facility [Line Items]
Debt instrument variable rate	2.50%	2.50%

Secured Line of Credit - Additi

Secured Line of Credit - Additional Information (Details) - USD ($)	1 Months Ended		6 Months Ended
	Aug. 31, 2021	Jun. 30, 2021	Jun. 30, 2024	Dec. 31, 2023
Bankers Trust Non-operating [Member]
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	$ 50,000,000
Secured Line Of Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity			$ 100,000,000	$ 90,000,000
Minimum liquidity		$ 6,300,000
Minimum consolidated tangible net worth		200,000,000
Debt instrument, covenant compliance			The Partnership is subject to various affirmative and negative covenants under the Secured Credit Agreement that, among others, require the Partnership to maintain a minimum liquidity of not less than $6.3 million and maintain a minimum consolidated tangible net worth of $200.0 million. The Partnership may increase the maximum commitment from $50.0 million to $60.0 million in total, subject to the identification of lenders to provide the additional commitment, the payment of certain fees, and other conditions. The minimum liquidity covenant will increase from the current $6.3 million requirement to up to $7.5 million upon certain increases in the maximum commitment amount. The Partnership was in compliance with all covenants as of June 30, 2024.
Secured Line Of Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Increase in the maximum commitment		50,000,000
Secured Line Of Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Minimum liquidity			$ 7,500,000
Increase in the maximum commitment		60,000,000
Secured Line Of Credit Facility [Member] | BankUnited, N.A. and Bankers Trust Company [Member]
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity		$ 50,000,000	$ 47,500,000
Aggregate available commitment cannot exceed borrowing base calculation equal to multiplied by the aggregate value of pool of eligible encumbered assets percentage		35%
Percentage of partnership's capital contributions to equity investments		100%
Secured Line Of Credit Facility [Member] | Bankers Trust Non-operating [Member]
Line of Credit Facility [Line Items]
Debt instrument, payment terms			Advances on the Acquisition LOC are due on the 270th day following the advance date but may be extended for up to three additional 90-day periods
Required percentage of principal payment for first extension	5%
Required percentage of principal payment for second extension	10%
Required percentage of principal payment for third extension	20%

Debt Financing - Schedule of To

Debt Financing - Schedule of Total Debt Financing (Details) - USD ($)		6 Months Ended		12 Months Ended
		Jun. 30, 2024		Dec. 31, 2023
Debt Instrument [Line Items]
Debt financing		$ 1,052,526,098		$ 1,015,030,066
Barclays Capital Inc [Member]
Debt Instrument [Line Items]
Debt financing		0		0
TEBS Financings [Member]
Debt Instrument [Line Items]
Debt financing		$ 303,112,556		$ 305,262,391
Period End Rates		4.47%		4.46%
TEBS Financings [Member] | Variable - M31 [Member]
Debt Instrument [Line Items]
Debt financing		$ 65,947,462	[1]	$ 66,621,825	[2]
Restricted Cash		$ 4,999	[1]	$ 4,999	[2]
Stated Maturities		2024	[1]	2024	[2]
Tax-Exempt Interest on Senior Securities		Yes	[1],[3]	Yes	[2],[4]
Remarketing Senior Securities Rate		3.91%	[1],[5]	3.90%	[2],[4]
Facility Fees		1.35%	[1]	1.31%	[2]
Period End Rates	[1]	5.26%		5.21%
TEBS Financings [Member] | Fixed - M33 [Member]
Debt Instrument [Line Items]
Debt financing		$ 28,518,298		$ 28,870,624
Restricted Cash		$ 2,606		$ 2,606
Stated Maturities		2030		2030
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Period End Rates		3.24%		3.24%
TEBS Financings [Member] | Fixed - M45 [Member]
Debt Instrument [Line Items]
Debt financing		$ 208,646,796		$ 209,769,942
Restricted Cash		$ 5,000		$ 5,000
Stated Maturities		2034		2034
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Period End Rates		4.39%		4.39%
TEBS Financings [Member] | Fixed Notes [Member]
Debt Instrument [Line Items]
Debt financing				$ 60,322,317
TOB Trusts Securitization [Member]
Debt Instrument [Line Items]
Debt financing		$ 676,441,644		$ 636,705,380	[6]
Period End Rates		5.87%		5.87%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Montevista - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 5,596,181	[7]	$ 5,618,833	[6]
Stated Maturities		2025		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.28%		1.28%
Period End Rates		5.48%		5.52%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Hope on Avalon GIL [Member]
Debt Instrument [Line Items]
Debt financing	[6]			$ 18,711,665
Stated Maturities				2024
Tax-Exempt Interest on Senior Securities	[4]			Yes
Remarketing Senior Securities Rate	[8]			4.24%
Facility Fees				1.44%
Period End Rates				5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Jackson Manor Apartments [Member]
Debt Instrument [Line Items]
Debt financing		$ 4,100,000	[7]	$ 4,100,000	[6]
Stated Maturities		2027		2024
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.29%		1.29%
Period End Rates		5.49%		5.53%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Southpark MRB [Member]
Debt Instrument [Line Items]
Debt financing	[7]	$ 9,836,063
Stated Maturities		2024
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[5]	4.20%
Facility Fees		1.44%
Period End Rates		5.64%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Trust 2021-XF2926 [Member]
Debt Instrument [Line Items]
Debt financing	[6],[9]			$ 38,496,952
Stated Maturities	[9]			2024
Tax-Exempt Interest on Senior Securities	[4],[9]			No
Remarketing Senior Securities Rate	[8],[9]			5.59%
Facility Fees	[9]			0.90%
Period End Rates	[9]			6.49%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Trust 2021-XF2939 [Member]
Debt Instrument [Line Items]
Debt financing	[6],[10]			$ 21,821,644
Stated Maturities	[10]			2025
Tax-Exempt Interest on Senior Securities	[4],[10]			No
Remarketing Senior Securities Rate	[8],[10]			5.59%
Facility Fees	[10]			1.17%
Period End Rates	[10]			6.76%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Trust 2024-XF3219 [Member]
Debt Instrument [Line Items]
Debt financing	[7],[11]	$ 31,294,815
Stated Maturities	[11]	2027
Tax-Exempt Interest on Senior Securities	[3],[11]	No
Remarketing Senior Securities Rate	[5],[11]	5.59%
Facility Fees	[11]	1.79%
Period End Rates	[11]	7.38%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Residency at the Mayer - Series A [Member]
Debt Instrument [Line Items]
Debt financing	[6]			$ 24,335,000
Stated Maturities				2026
Tax-Exempt Interest on Senior Securities	[4]			Yes
Remarketing Senior Securities Rate	[8]			4.24%
Facility Fees				1.19%
Period End Rates				5.43%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Residency at the Mayer MRbs [Member]
Debt Instrument [Line Items]
Debt financing	[7]	$ 33,803,106
Stated Maturities		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[5]	4.20%
Facility Fees		1.19%
Period End Rates		5.39%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | The Safford [Member]
Debt Instrument [Line Items]
Debt financing		$ 15,286,911	[7]	$ 5,911,780	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | SoLa Impact Opportunity Zone Fund [Member]
Debt Instrument [Line Items]
Debt financing		$ 23,433,061	[7]	$ 23,741,122	[6]
Stated Maturities		2024		2024
Tax-Exempt Interest on Senior Securities		No	[3]	No	[4]
Remarketing Senior Securities Rate		5.59%	[5]	5.59%	[8]
Facility Fees		1.78%		1.78%
Period End Rates		7.37%		7.37%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Montecito at Williams Ranch - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 6,783,767	[7]	$ 6,813,244	[6]
Stated Maturities		2027		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.18%		1.18%
Period End Rates		5.38%		5.42%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Woodington Gardens - Series A - 1 [Member]
Debt Instrument [Line Items]
Debt financing	[7]	$ 24,824,240
Stated Maturities		2027
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[5]	4.20%
Facility Fees		1.44%
Period End Rates		5.64%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Aventine Apartments [Member]
Debt Instrument [Line Items]
Debt financing	[7]	$ 7,551,963
Stated Maturities		2027
Tax-Exempt Interest on Senior Securities	[3]	Yes
Remarketing Senior Securities Rate	[5]	4.20%
Facility Fees		1.44%
Period End Rates		5.64%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Vineyard Gardens - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 3,594,028	[7]	$ 3,593,615	[6]
Stated Maturities		2027		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.18%		1.18%
Period End Rates		5.38%		5.42%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | The Park at Sondrio - Series 2022A [Member]
Debt Instrument [Line Items]
Debt financing		$ 30,418,077	[7]	$ 30,396,222	[6]
Stated Maturities		2025		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.43%		1.43%
Period End Rates		5.63%		5.67%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | The Park at Vietti - Series 2022A [Member]
Debt Instrument [Line Items]
Debt financing		$ 21,539,334	[7]	$ 21,522,158	[6]
Stated Maturities		2025		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.43%		1.43%
Period End Rates		5.63%		5.67%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Avistar at Copperfield - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 11,304,585	[7]	$ 11,370,985	[6]
Stated Maturities		2027		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.68%		1.68%
Period End Rates		5.88%		5.92%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Avistar at Wilcrest - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 4,280,584	[7]	$ 4,303,984	[6]
Stated Maturities		2027		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.68%		1.68%
Period End Rates		5.88%		5.92%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Residency at the Entrepreneur MRBs [ Member ]
Debt Instrument [Line Items]
Debt financing		$ 34,060,000	[7]	$ 23,040,000	[6]
Stated Maturities		2025		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.45%		1.45%
Period End Rates		5.65%		5.69%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Legacy Commons at Signal Hills GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 31,155,000	[7]	$ 31,155,000	[6]
Stated Maturities		2025		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		0.91%		0.91%
Period End Rates		5.11%		5.15%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Osprey Village GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 49,475,000	[7]	$ 49,475,000	[6]
Stated Maturities		2025		2025
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate	[5]	4.20%		4.24%	[8]
Facility Fees		1.19%		1.19%
Period End Rates		5.39%		5.43%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Residency at the Mayer Taxable MRB [Member]
Debt Instrument [Line Items]
Debt financing	[7]	$ 824,656
Stated Maturities		2025
Tax-Exempt Interest on Senior Securities	[3]	No
Remarketing Senior Securities Rate	[5]	5.59%
Facility Fees		1.17%
Period End Rates		6.76%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Residency at Empire MRBs [Member]
Debt Instrument [Line Items]
Debt financing		$ 29,847,760	[7]	$ 18,267,048	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes		Yes	[4]
Remarketing Senior Securities Rate	[5]	4.20%		4.24%
Facility Fees		1.42%		1.42%
Period End Rates		5.62%		5.66%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | The Ivy Apartments [Member]
Debt Instrument [Line Items]
Debt financing		$ 24,347,506	[7]	$ 24,330,930	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes		Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Windsor Shores Apartments [Member]
Debt Instrument [Line Items]
Debt financing		$ 17,196,987	[7]	$ 17,183,983	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes		Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Village at Hanford Sqaure [Member]
Debt Instrument [Line Items]
Debt financing		$ 7,768,683	[7]	$ 7,760,141	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes		Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Maryalice Circle Apartments [Member]
Debt Instrument [Line Items]
Debt financing		$ 4,690,419	[7]	$ 4,682,351	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes		Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Meadow Valley [Member]
Debt Instrument [Line Items]
Debt financing		$ 22,039,174	[7]	$ 15,438,915	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes		Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | 40rty on Colony [Member]
Debt Instrument [Line Items]
Debt financing		$ 4,445,678	[7]	$ 4,440,847	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities	[3]	Yes		Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Sandy Creek Apartments GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 9,628,693	[7]	$ 9,616,853	[6]
Stated Maturities		2026		2026
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Avistar at Wood Hollow - Series A [Member]
Debt Instrument [Line Items]
Debt financing		$ 32,463,660	[7]	$ 32,673,300	[6]
Stated Maturities		2027		2027
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.44%		1.44%
Period End Rates		5.64%		5.68%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Mizuho Capital Markets [Member] | Live929 [Member]
Debt Instrument [Line Items]
Debt financing		$ 53,092,000	[7]	$ 53,092,000	[6]
Stated Maturities		2027		2027
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		4.20%	[5]	4.24%	[8]
Facility Fees		1.18%		1.18%
Period End Rates		5.38%		5.42%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Barclays Capital Inc [Member] | Trust 2021-XF2953 [Member]
Debt Instrument [Line Items]
Debt financing		$ 54,628,333	[12]	$ 69,694,599	[6],[13]
Stated Maturities		2025	[12]	2024	[13]
Tax-Exempt Interest on Senior Securities		No	[3],[12]	No	[4],[13]
Remarketing Senior Securities Rate		5.47%	[5],[12]	5.48%	[8],[13]
Facility Fees		1.27%	[12]	1.27%	[13]
Period End Rates		6.74%	[12]	6.75%	[13]
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Barclays Capital Inc [Member] | Poppy Grove I GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 16,437,279		$ 15,872,163	[6]
Stated Maturities		2025		2024
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		5.10%	[5]	4.40%	[8]
Facility Fees		1.25%		1.25%
Period End Rates		6.35%		5.65%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Barclays Capital Inc [Member] | Poppy Grove II GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 22,274,279		$ 7,628,163	[6]
Stated Maturities		2025		2024
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		5.10%	[5]	4.40%	[8]
Facility Fees		1.25%		1.25%
Period End Rates		6.35%		5.65%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Barclays Capital Inc [Member] | Village Point [Member]
Debt Instrument [Line Items]
Debt financing		$ 18,389,543		$ 18,381,720	[6]
Stated Maturities		2025		2024
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		5.10%	[5]	4.43%	[8]
Facility Fees		1.61%		1.61%
Period End Rates		6.71%		6.04%
TOB Trusts Securitization [Member] | Variable - Notes [Member] | Barclays Capital Inc [Member] | Poppy Grove III GIL [Member]
Debt Instrument [Line Items]
Debt financing		$ 10,030,279		$ 13,235,163	[6]
Stated Maturities		2025		2024
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Remarketing Senior Securities Rate		5.10%	[5]	4.40%	[8]
Facility Fees		1.25%		1.25%
Period End Rates		6.35%		5.65%
Term TOB Trust Securitization [Member] | Morgan Stanley Bank [Member] | Village at Avalon [Member]
Debt Instrument [Line Items]
Debt financing		$ 12,689,225		$ 12,739,978
Stated Maturities		2025		2024
Variable Rate Index		Yes	[3]	Yes	[4]
Period End Rates		6.33%		1.98%
TEBS Residual Financing [Member] | Fixed Notes [Member]
Debt Instrument [Line Items]
Debt financing		$ 60,282,673
Restricted Cash		$ 18,000
Stated Maturities		2034		2034
Tax-Exempt Interest on Senior Securities		Yes	[3]	Yes	[4]
Period End Rates		7.16%		7.16%
[1] Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. Facility fees have a variable component. The stated maturity date in July 2024 is the expiration of the liquidity commitment rate from Freddie Mac. On that date, Freddie Mac will either extend the liquidity commitment, reset the liquidity commitment fee rate, or require the conversion to a fixed rate mode at a rate dependent on market conditions on that date. Freddie Mac cannot require redemption of the outstanding Class A Certificates on that date. The Partnership also has the right to terminate the facility and obtain alternative debt financing. The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. The tax treatment of interest paid to the trust senior trust securities is dependent on the structure of the trust financing. Debt financings designated as “tax-exempt” in the table above are such that the Partnership expects and believes the interest on the senior securities is exempt from federal income taxes, which typically requires a lower remarketing rate to place the senior securities at each weekly reset. The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. The Partnership has restricted cash totaling approximately $ 9.6 million related to its total net position with Mizuho. The Partnership has restricted cash totaling approximately $ 16.8 million related to its total net position with Mizuho. The remarketing senior securities rate is the market interest rate determined by the remarketing agent to ensure all senior securities tendered by holder for weekly remarketing are purchased at par. The TOB trust is securitized by the Legacy Commons at Signal Hills property loan and the Hope on Avalon taxable GIL. The TOB trust is securitized by the Residency at the Mayer taxable MRB and Osprey Village property loan. The TOB trust is securitized by seven MRBs, nine taxable MRBs, and one property loan. The TOB trust is securitized by the Willow Place GIL & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL. The TOB trust is securitized by the Willow Place GIL, property loan & supplemental GIL, Lutheran Gardens MRB, Magnolia Heights GIL and property loan, Poppy Grove I taxable GIL, Poppy Grove II taxable GIL and Poppy Grove III taxable GIL.

Debt Financing - Schedule of _2

Debt Financing - Schedule of Total Debt Financing (Parenthetical) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Cash collateral	$ 16.8	$ 9.6

Debt Financing - Additional Inf

Debt Financing - Additional Information (Details) - USD ($)	1 Months Ended			6 Months Ended
	Jun. 30, 2024	Apr. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Termination occur percentage decrease by partners net assets in one quarter				25%
Termination occur percentage decrease by partners net assets in over one year				35%
Debt financing	$ 1,052,526,098			$ 1,052,526,098		$ 1,015,030,066
Outstanding principal				98,282,000	$ 59,779,000
Mizuho [Member]
Debt Instrument [Line Items]
Debt financing	16,800,000			16,800,000		9,600,000
Barclays Capital Inc [Member]
Debt Instrument [Line Items]
Debt financing	0			0		$ 0
TOB Trust [Member]
Debt Instrument [Line Items]
Debt financing	64,155,000			64,155,000	$ 122,862,000
TOB Trust [Member] | Trust 2022-XF3059 [Member]
Debt Instrument [Line Items]
Additional debt financing proceeds			$ 9,500,000
TOB Trust [Member] | Trust 2024-XF3219 [Member]
Debt Instrument [Line Items]
Debt financing	21,795,000			$ 21,795,000
Additional debt financing proceeds	3,100,000
TOB Trust [Member] | Trust 2023 - XF3077 [Member]
Debt Instrument [Line Items]
Additional debt financing proceeds	$ 3,200,000
TOB Trust [Member] | Village At Avalon MRB [Member]
Debt Instrument [Line Items]
Partnership maturity extended date		May 2025
Effective net interest rate		6.33%
TOB Trust [Member] | Woodington Gardens Apartments - Series A-2 [Member]
Debt Instrument [Line Items]
Additional debt financing proceeds		$ 2,100,000

Debt Financing - Summary of TOB

Debt Financing - Summary of TOB Trust Financings (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Debt financing	$ 1,052,526,098		$ 1,015,030,066
TOB Trust [Member]
Debt Instrument [Line Items]
Debt financing	64,155,000	$ 122,862,000
TOB Trust [Member] | Southpark MRB [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing	$ 9,840,000
Stated Maturity	2024-06
Interest Rate Type	Variable
Tax-Exempt Interest on Senior Securities	Yes
Facility Fees	1.44%
TOB Trust [Member] | Trust 2024-XF3219 [Member]
Debt Instrument [Line Items]
Debt financing	$ 21,795,000
Stated Maturity	2027-02
Interest Rate Type	Variable
Tax-Exempt Interest on Senior Securities	No
Facility Fees	1.79%
TOB Trust [Member] | Residency at Empire MRBs [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 14,400,000
Stated Maturity		2026-01
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		Yes
Facility Fees		1.42%
TOB Trust [Member] | Windsor Shores [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 17,236,000
Stated Maturity		2026-01
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		Yes
Facility Fees		1.44%
TOB Trust [Member] | SoLa Impact Opportunity Zone Fund [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 27,300,000
Stated Maturity		2024-12
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		No
Facility Fees		1.78%
TOB Trust [Member] | The Ivy Apartments [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 24,400,000
Stated Maturity		2026-02
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		Yes
Facility Fees		1.44%
TOB Trust [Member] | Village at Hanford Square [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 7,800,000
Stated Maturity		2026-05
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		Yes
Facility Fees		1.44%
TOB Trust [Member] | MaryAlice Circle [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 4,720,000
Stated Maturity		2026-05
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		Yes
Facility Fees		1.44%
TOB Trust [Member] | Meadow Valley [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 8,606,000
Stated Maturity		2026-06
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		Yes
Facility Fees		1.44%
TOB Trust [Member] | Village Point [Member] | MRB [Member]
Debt Instrument [Line Items]
Debt financing		$ 18,400,000
Stated Maturity		2024-06
Interest Rate Type		Variable
Tax-Exempt Interest on Senior Securities		Yes
Facility Fees		1.61%
TOB Trust [Member] | Woodington Gardens - Series A - 1 [Member]
Debt Instrument [Line Items]
Debt financing	$ 24,920,000
Stated Maturity	2027-04
Interest Rate Type	Variable
Tax-Exempt Interest on Senior Securities	Yes
Facility Fees	1.44%
TOB Trust [Member] | Aventine Apartments [Member]
Debt Instrument [Line Items]
Debt financing	$ 7,600,000
Stated Maturity	2027-06
Interest Rate Type	Variable
Tax-Exempt Interest on Senior Securities	Yes
Facility Fees	1.44%

Debt Financing - Summary of T_2

Debt Financing - Summary of TOB Trust Financings Were Repaid in Connection With Redemption or Sale of Underlying Assets (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument Redemption [Line Items]
Paydown Applied	$ 98,282,000	$ 59,779,000
M31 TEBS [Member] | Greens of Pine Glen [Member]
Debt Instrument Redemption [Line Items]
Month		2023-02
Paydown Applied		$ 7,579,000
TOB Trust [Member] | Hope on Avalon GIL [Member]
Debt Instrument Redemption [Line Items]
Month	2024-01
Paydown Applied	$ 18,712,000
TOB Trust [Member] | Trust 2021-XF2926 - Hope on Avalon taxable GIL [Member]
Debt Instrument Redemption [Line Items]
Month	2024-01
Paydown Applied	$ 9,515,000
TOB Trust [Member] | Trust 2021-XF2939 - Osprey Village Property Loan [Member]
Debt Instrument Redemption [Line Items]
Month	2024-02
Paydown Applied	$ 12,365,000
TOB Trust [Member] | Trust 2021-XF2953 - Willow Place Property Loan [Member]
Debt Instrument Redemption [Line Items]
Month	2024-02
Paydown Applied	$ 15,080,000
TOB Trust [Member] | Trust 2021-XF2926 - Legacy Commons at Signal Hills property loan [Member]
Debt Instrument Redemption [Line Items]
Month	2024-02
Paydown Applied	$ 28,985,000
TOB Trust [Member] | Trust 2021-XF2939 - Residency at the Mayer Series A-T [Member]
Debt Instrument Redemption [Line Items]
Month	2024-03
Paydown Applied	$ 9,480,000
TOB Trust [Member] | So La Impact Opportunity Zone Fund [Member]
Debt Instrument Redemption [Line Items]
Month	2024-03
Paydown Applied	$ 350,000
TOB Trust [Member] | Oasis at Twin Lakes GIL [Member]
Debt Instrument Redemption [Line Items]
Month		2023-06
Paydown Applied		$ 30,600,000
TOB Trust [Member] | Trust 2021-XF2926 - Oasis at Twin Lakes property loan [Member]
Debt Instrument Redemption [Line Items]
Month		2023-06
Paydown Applied		$ 21,600,000
TOB Trust [Member] | Trust 2021-XF2939 - Osprey Village Supplemental property loan [Member]
Debt Instrument Redemption [Line Items]
Month	2024-02
Paydown Applied	$ 3,795,000

Debt Financing - Schedule of Co

Debt Financing - Schedule of Contractual Maturities of Borrowings (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Financing [Abstract]
Remainder of 2024	$ 125,160,933
2025	318,247,785
2026	180,576,526
2027	169,928,219
2028	4,518,577
Thereafter	257,086,608
Total	1,055,518,648
Unamortized deferred financing costs and debt premium	(2,992,550)
Total debt financing, net	$ 1,052,526,098	$ 1,015,030,066

Mortgage Payable - Summary of P

Mortgage Payable - Summary of Partnerships' Mortgages Payable, Net of Deferred Financing Costs (Details) - Mortgages payable [Member] - Real Estate [Member] - Vantage at San Marcos [Member] - USD ($)		6 Months Ended
		Jun. 30, 2024	Dec. 31, 2023
Mortgage Loans On Real Estate [Line Items]
Outstanding Mortgage Payable, net	[1]	$ 1,690,000	$ 1,690,000
Year Acquired	[1]	2020
Stated Maturity	[1]	2024-11
Variable / Fixed	[1]	Variable
Period End Rate	[1]	9.25%
[1] The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 3).

Derivative Instruments - Summar

Derivative Instruments - Summary of Unrealized and Realized Gains and Losses of Partnership's Derivative Instruments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative [Line Items]
Realized (gains) losses on derivatives, net	$ (1,674,351)	$ (2,593,482)	$ (3,337,800)	$ (4,746,313)
Unrealized (gains) losses on derivatives, net	(210,583)	(6,020,265)	(4,814,798)	(2,584,298)
Net result from derivative transactions	(1,884,934)	(8,613,747)	(8,152,598)	(7,330,611)
Interest Rate Swaps [Member]
Derivative [Line Items]
Realized (gains) losses on derivatives, net	(1,674,351)	(1,273,493)	(3,337,800)	(2,102,973)
Unrealized (gains) losses on derivatives, net	(210,618)	(6,028,500)	(4,815,063)	(2,598,498)
Net result from derivative transactions	(1,884,969)	(7,301,993)	(8,152,863)	(4,701,471)
Interest Rate Cap [Member]
Derivative [Line Items]
Unrealized (gains) losses on derivatives, net	35	8,235	265	14,200
Net result from derivative transactions	$ 35	8,235	$ 265	14,200
Total Return Swaps [Member]
Derivative [Line Items]
Realized (gains) losses on derivatives, net		(1,319,989)		(2,643,340)
Net result from derivative transactions		$ (1,319,989)		$ (2,643,340)

Derivative Instruments - Summ_2

Derivative Instruments - Summary of Partnership's Derivative Instruments (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative, Notional Amount	$ 438,256,521	$ 406,643,955
Derivative, Fair Value Asset	9,679,247	5,254,663
Derivative, Fair Value Liability	(418,075)	(705,694)
Interest Rate Cap Agreements [Member] | SIFMA [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 72,578,127	73,393,729
Derivative, Fair Value Asset		$ 265
Derivative, Weighted Average Remaining Maturity	2 months 1 day	8 months 1 day
Interest Rate Swaps [Member] | SOFR [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 365,678,394	$ 333,250,226
Derivative, Fair Value Asset	9,679,247	5,254,398
Derivative, Fair Value Liability	$ (418,075)	$ (705,694)
Derivative, Weighted Average Remaining Maturity	3 years 1 month 9 days	3 years 5 months 23 days

Derivative Instruments - Summ_3

Derivative Instruments - Summary of Partnership's Derivative Instruments (Parenthetical) (Details)	Jun. 30, 2024	Dec. 31, 2023
Interest Rate Cap [Member] | SIFMA [Member]
Derivative [Line Items]
Derivative, Effective Capped Rate	4.50%	4.50%

Derivative Instruments - Summ_4

Derivative Instruments - Summary of Average Notional Amount and Weighted Average Fixed Rate by Year (Details) - Interest Rate Swaps [Member]	Jun. 30, 2024 USD ($)
Average Notional
Remainder of 2024	$ 391,117,465
2025	322,456,631
2026	272,318,799
2027	186,920,466
2028	150,622,132
2029	114,067,299
2030	$ 14,317,800
Weighted Average Fixed Rate Paid
Remainder of 2024	3.52%
2025	3.39%
2026	3.36%
2027	3.44%
2028	3.54%
2029	3.45%
2030	3.74%

Commitments and Contingencies -

Commitments and Contingencies - Summary of Partnership's Bond Purchase Commitments (Details) - Anaheim & Walnut [Member] - Bond Purchase Commitment [Member] - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Bond Purchase Commitment [Line Items]
Commitment Date	2021-09
Maximum Committed Amounts Remaining	$ 3,900,000
Interest Rate	4.85%
Estimated Closing Date	Q3 2024
Fair Value	$ 46,238	$ 197,788

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Partnership's Total and Remaining Commitments (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 417,639,233
Remaining Commitment as of June 30, 2024	263,798,905
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	155,420,000
Remaining Commitment as of June 30, 2024	$ 96,307,106
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-4 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2040-03
Total Initial Commitment	$ 16,420,000
Remaining Commitment as of June 30, 2024	$ 12,600,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-4 [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.60%	[1],[2]
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-5 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2023-02
Maturity Date	2025-04	[3]
Total Initial Commitment	$ 5,000,000
Remaining Commitment as of June 30, 2024	$ 4,000,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-5 [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.60%	[1]
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-T [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-04
Maturity Date	2025-04	[3]
Total Initial Commitment	$ 8,000,000
Remaining Commitment as of June 30, 2024	$ 7,000,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at the Entrepreneur [Member] | Series J-T [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	3.65%	[1]
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at Empire [Member] | Series BB-4 [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-12
Maturity Date	2040-12
Interest Rate	6.45%	[1],[4]
Total Initial Commitment	$ 47,000,000
Remaining Commitment as of June 30, 2024	$ 41,500,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Residency at Empire [Member] | Series BB-T [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-12
Maturity Date	2025-12	[3]
Interest Rate	7.45%	[1]
Total Initial Commitment	$ 9,404,500
Remaining Commitment as of June 30, 2024	$ 8,404,500
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | Meadow Valley [Member] | Series A [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-12
Maturity Date	2029-12
Interest Rate	6.25%	[1]
Total Initial Commitment	$ 44,000,000
Remaining Commitment as of June 30, 2024	$ 14,470,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | Village at Hanford Square [Member] | Series H-T [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2023-05
Maturity Date	2030-05
Interest Rate	7.25%	[1]
Total Initial Commitment	$ 10,400,000
Remaining Commitment as of June 30, 2024	$ 6,900,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | 40rty On Colony [Member] | Series P-T [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2023-06
Maturity Date	2030-06
Interest Rate	7.45%	[1]
Total Initial Commitment	$ 5,950,000
Remaining Commitment as of June 30, 2024	$ 4,950,000
Mortgage Revenue Bonds and Taxable Mortgage Revenue Bonds [Member] | The Safford [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2023-10
Maturity Date	2026-10
Interest Rate	7.59%	[1]
Total Initial Commitment	$ 43,000,000
Remaining Commitment as of June 30, 2024	23,737,106
Taxable Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	33,754,500
Remaining Commitment as of June 30, 2024	27,254,500
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	97,057,835
Remaining Commitment as of June 30, 2024	$ 36,120,535
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Poppy Grove I [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[3]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 35,688,328
Remaining Commitment as of June 30, 2024	$ 7,842,328
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Poppy Grove II [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[3]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 22,250,000
Remaining Commitment as of June 30, 2024	$ 9,708,700
Governmental Issuer Loans and Taxable Governmental Issuer Loans [Member] | Poppy Grove III [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[3]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 39,119,507
Remaining Commitment as of June 30, 2024	18,569,507
Taxable Governmental Issuer Loans [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	56,579,465
Remaining Commitment as of June 30, 2024	$ 53,579,465
Taxable Governmental Issuer Loans [Member] | Poppy Grove I [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[3]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 21,157,672
Remaining Commitment as of June 30, 2024	$ 20,157,672
Taxable Governmental Issuer Loans [Member] | Poppy Grove II [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[3]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 10,941,300
Remaining Commitment as of June 30, 2024	$ 9,941,300
Taxable Governmental Issuer Loans [Member] | Poppy Grove III [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-09
Maturity Date	2025-04	[3]
Interest Rate	6.78%	[1]
Total Initial Commitment	$ 24,480,493
Remaining Commitment as of June 30, 2024	23,480,493
Property Loans [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	7,830,000
Remaining Commitment as of June 30, 2024	$ 1,042,008
Property Loans [Member] | Sandy Creek Apartments [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2023-08
Maturity Date	2026-09	[3]
Interest Rate	8.63%	[1],[5]
Total Initial Commitment	$ 7,830,000
Remaining Commitment as of June 30, 2024	$ 1,042,008
Property Loans [Member] | Anaheim & Walnut [Member] | SOFR [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate	4.85%	[1]
Joint Venture Investments [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 63,097,433
Remaining Commitment as of June 30, 2024	$ 45,595,291
Joint Venture Investments [Member] | Vantage at San Marcos [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2020-11	[6],[7]
Total Initial Commitment	$ 9,914,529	[6],[7]
Remaining Commitment as of June 30, 2024	$ 8,943,914	[6],[7]
Joint Venture Investments [Member] | Freestone Greeley [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2022-10	[6]
Total Initial Commitment	$ 16,035,710	[6]
Remaining Commitment as of June 30, 2024	$ 10,562,345	[6]
Joint Venture Investments [Member] | Freestone Cresta Bella [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2023-12
Total Initial Commitment	$ 20,049,570
Remaining Commitment as of June 30, 2024	$ 12,639,538
Joint Venture Investments [Member] | Freestone Ladera [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2023-12
Total Initial Commitment	$ 17,097,624
Remaining Commitment as of June 30, 2024	13,449,494
Bond Purchase Commitment [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	3,900,000
Remaining Commitment as of June 30, 2024	$ 3,900,000
Bond Purchase Commitment [Member] | Anaheim & Walnut [Member]
Commitments And Other Guarantees [Line Items]
Commitment Date	2021-09
Maturity Date	Q3 2024	[8]
Total Initial Commitment	$ 3,900,000
Remaining Commitment as of June 30, 2024	$ 3,900,000
[1] The variable index interest rate components are subject to a floor of 0.27 %. Upon stabilization, the MRB will convert to a fixed rate of 8.0 % and become subordinate to the other senior MRBs. The borrowers may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. Upon stabilization, the MRB will convert to a fixed rate of 10.0 % and become subordinate to the other senior MRBs of the borrower. The interest rate will convert to a variable rate of Term SOFR + 3.35 % on February 1, 2025. A development site has been identified for this property but construction had not commenced as of June 30, 2024. The property became a consolidated VIE effective during the fourth quarter of 2021 (Note 3). This is the estimated closing date of the associated bond purchase commitment.

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Partnership's Total and Remaining Commitments (Parenthetical) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Feb. 01, 2025
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 417,639,233
Joint Venture Investments [Member]
Commitments And Other Guarantees [Line Items]
Total Initial Commitment	$ 63,097,433
The Residency at the Entrepreneur [Member] | Series J-4 [Member] | Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Fixed interest rate	8%
The Residency at Empire [Member] | Series BB-4 [Member] | Mortgage Revenue Bonds [Member]
Commitments And Other Guarantees [Line Items]
Fixed interest rate	10%
Scenario Forecast [Member] | SOFR [Member] | Sandy Creek Apartments [Member]
Commitments And Other Guarantees [Line Items]
Interest Rate		3.35%
Minimum [Member]
Commitments And Other Guarantees [Line Items]
Extended maturity period	6 months
Minimum [Member] | Floor Rate [Member]
Commitments And Other Guarantees [Line Items]
Variable Interest Rate	0.27%
Maximum [Member]
Commitments And Other Guarantees [Line Items]
Extended maturity period	12 months

Commitments and Contingencies_4

Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended
	Dec. 31, 2022	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023
Commitments And Other Guarantees [Line Items]
Reserve for credit losses	$ 495,000	$ 3,480,000	$ 3,291,000	$ 4,097,000	$ 5,125,000	$ 5,899,000
Reported value of credit guaranties		$ 324,000		343,000
Greens of Pine Glen [Member]
Commitments And Other Guarantees [Line Items]
Percentage of loss contingency, range of possible loss, maximum		75%
Loan purchase agreement expiry year		2027
Loan purchase agreement maximum exposure		$ 1,470,582
The 50/50 MF Property [Member]
Commitments And Other Guarantees [Line Items]
Ownership interest sold	100%
Unfunded Commitments [Member]
Commitments And Other Guarantees [Line Items]
Reserve for credit losses	$ 0	$ 385,000	$ 456,000	$ 678,000	$ 958,000	$ 1,280,000
Forward Loan Purchase Agreement [Member]
Commitments And Other Guarantees [Line Items]
Loan purchase agreement expiry year		2027
Loan purchase agreement maximum exposure		$ 21,600,000
Construction loan		$ 127,200,000
Forward Loan Purchase Agreement [Member] | Maximum [Member]
Commitments And Other Guarantees [Line Items]
Maturity of construction loan		7 years
Forward Loan Purchase Agreement [Member] | Minimum [Member]
Commitments And Other Guarantees [Line Items]
Maturity of construction loan		5 years

Commitments and Contingencies_5

Commitments and Contingencies - Summary of Partnership's Maximum Exposure Under Guaranty Agreements (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Ohio Properties [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of June 30, 2024	$ 1,960,152
End of Guaranty Period	2026
Greens of Pine Glen [Member]
Long-term Purchase Commitment [Line Items]
Partnership's Maximum Exposure as of June 30, 2024	$ 1,470,582
End of Guaranty Period	2027

Redeemable Preferred Units - Ad

Redeemable Preferred Units - Additional Information (Details) - USD ($)	1 Months Ended			6 Months Ended	12 Months Ended
	Apr. 30, 2024	Feb. 29, 2024	Jan. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Partnership issued preferred units				$ 77,500,000	$ 82,500,000
Series A Preferred Units [Member]
Distributions paid quarterly at annual fixed rate				3%
Partnership redeemed amount	$ 10,000,000
Partnership issued preferred units					27,500,000
Series B Preferred Stock [Member]
Partnership capital issued preferred units in exchange			$ 17,500,000
Partnership issued preferred units		$ 5,000,000
Series A-1 Preferred Units [Member]
Distributions paid quarterly at annual fixed rate				3%
Partnership issued preferred units				$ 55,000,000	$ 55,000,000
Series B Preferred Units [Member]
Distributions paid quarterly at annual fixed rate				5.75%
Partnership issued preferred units				$ 22,500,000

Redeemable Preferred Units - Su

Redeemable Preferred Units - Summary of Issuances of Preferred Units (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Preferred Units outstanding	7,750,000	8,250,000
Purchase Price	$ 77,500,000	$ 82,500,000
Series A Preferred Units [Member]
Preferred Units outstanding		2,750,000
Purchase Price		$ 27,500,000
Distribution Rate	3%
Series A-1 Preferred Units [Member]
Preferred Units outstanding	5,500,000	5,500,000
Purchase Price	$ 55,000,000	$ 55,000,000
Distribution Rate	3%
Series B Preferred Units [Member]
Preferred Units outstanding	2,250,000
Purchase Price	$ 22,500,000
Distribution Rate	5.75%
Series A Preferred Units issued on March 2016 [Member]
Preferred Units outstanding		1,000,000
Purchase Price		$ 10,000,000
Distribution Rate		3%
Redemption Price per Unit		$ 10
Series A Preferred Units issued on March 2017 [Member]
Preferred Units outstanding		1,000,000
Purchase Price		$ 10,000,000
Distribution Rate		3%
Redemption Price per Unit		$ 10
Series A Preferred Units issued on October 2017 [Member]
Preferred Units outstanding		750,000
Purchase Price		$ 7,500,000
Distribution Rate		3%
Redemption Price per Unit		$ 10
Series A-1 Preferred Units issued on April 2022 [Member]
Preferred Units outstanding	2,000,000	2,000,000
Purchase Price	$ 20,000,000	$ 20,000,000
Distribution Rate	3%	3%
Redemption Price per Unit	$ 10	$ 10
Earliest Redemption Date	2028-04
Series A-1 Preferred Units issued on October 2022 [Member]
Preferred Units outstanding	1,000,000	1,000,000
Purchase Price	$ 10,000,000	$ 10,000,000
Distribution Rate	3%	3%
Redemption Price per Unit	$ 10	$ 10
Earliest Redemption Date	2028-10
Series A-1 Preferred Units issued on February 2023 [Member]
Preferred Units outstanding	1,500,000	1,500,000
Purchase Price	$ 15,000,000	$ 15,000,000
Distribution Rate	3%	3%
Redemption Price per Unit	$ 10	$ 10
Earliest Redemption Date	2029-02
Series A-1 Preferred Units issued on June 2023 [Member]
Preferred Units outstanding	1,000,000	1,000,000
Purchase Price	$ 10,000,000	$ 10,000,000
Distribution Rate	3%	3%
Redemption Price per Unit	$ 10	$ 10
Earliest Redemption Date	2029-06
Series B Preferred Units Issued On January 2024 [Member]
Preferred Units outstanding	1,750,000
Purchase Price	$ 17,500,000
Distribution Rate	5.75%
Redemption Price per Unit	$ 10
Earliest Redemption Date	2030-01
Series B Preferred Units Issued On February 2024 [Member]
Preferred Units outstanding	500,000
Purchase Price	$ 5,000,000
Distribution Rate	5.75%
Redemption Price per Unit	$ 10
Earliest Redemption Date	2030-02

Redeemable Preferred Units - _2

Redeemable Preferred Units - Summary of Issuances of Preferred Units (Parenthetical) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Redeemable preferred stock units	$ 77,395,065	$ 82,431,548

Restricted Unit Awards - Additi

Restricted Unit Awards - Additional Information (Details) - Restricted Unit Awards [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to nonvested RUAs granted	$ 1,900,000		$ 1,900,000
Remaining compensation expense expected to be recognized over a weighted-average period			1 year 1 month 6 days
Intrinsic value of unvested RUAs			$ 3,000,000
General and Administrative Expenses [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 559,000	$ 587,000	$ 891,000	$ 937,000
2015 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSU available for future issuance	292,000		292,000
2015 Equity Incentive Plan [Member] | Greystone Manager [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Approved grant of restricted units and other awards to employees	1,000,000		1,000,000
RUAs granted with vesting range			3 years
2015 Equity Incentive Plan [Member] | Greystone Manager [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RUAs granted with vesting range			3 months

Restricted Unit Awards - Summar

Restricted Unit Awards - Summary of RUA Activity (Details) - Restricted Unit Awards [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Restricted Units Awarded
Beginning Balance	95,600	87,334
Granted	109,581	105,274
Vested		(97,008)
Ending Balance	205,181	95,600
Weighted-average Grant-Date Fair Value
Beginning Balance	$ 18.18	$ 19.33
Granted	16.62	17.65
Vested		18.64
Ending Balance	$ 17.35	$ 18.18

Transactions with Related Par_3

Transactions with Related Parties - Summary of Transactions with Related Parties Reflected in the Partnership's Consolidated Financial Statements (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Reimbursable franchise margin taxes incurred on behalf of unconsolidated entities	[1]	$ 23,000	$ 123,000	$ 43,000	$ 138,000
Referral fees paid to an affiliate	[2]	0	29,750	0	106,000
General Partner [Member]
Related Party Transaction [Line Items]
Administrative fees	[3]	$ 1,515,000	$ 1,628,000	$ 3,001,000	$ 3,206,000
[1] The Partnership pays franchise margin taxes on revenues in Texas related to its investments in unconsolidated entities. Such taxes are paid by the Partnership as the unconsolidated entities are required by tax regulations to be included in the Partnership’s group franchise tax return. Since the Partnership is reimbursed for the franchise margin taxes paid on behalf of the unconsolidated entities, these taxes are not reported on the Partnership’s condensed consolidated statements of operations. The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2024, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond acquisition costs that are deferred and amortized as a yield adjustment to the related investment asset. The General Partner The General Partner is entitled to receive an administrative fee from the Partnership equal to 0.45 % per annum of the outstanding principal balance of any of its investment assets for which the owner of the financed property or other third party is not obligated to pay such administrative fee directly to the General Partner. The disclosed amounts represent administrative fees paid or accrued during the periods specified and are reported within “General and administrative expenses” on the Partnership’s condensed consolidated statements of operations.

Transactions with Related Par_4

Transactions with Related Parties - Summary of Transactions with Related Parties Reflected in the Partnership's Consolidated Financial Statements (Parenthetical) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transactions [Abstract]
Rate for administration fees receivable	0.45%	0.45%	0.45%	0.45%
Percentage of referral fee to be received in original principal amount	0.25%	0.25%	0.25%	0.25%

Transactions with Related Par_5

Transactions with Related Parties - Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
General Partner [Member]
Investment/mortgage placement fees earned	[1]	$ 1,544,000	$ 785,000	$ 1,569,000	$ 3,042,000
[1] The General Partner received placement fees in connection with the acquisition of certain MRBs, taxable MRBs, GILs, taxable GILs and property loans and investments in unconsolidated entities.

Transactions with Related Par_6

Transactions with Related Parties - Summary of Transactions Between Borrowers of Partnership's MRBs and Affiliates (Parenthetical) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transactions [Abstract]
Rate for administration fees receivable	0.45%	0.45%	0.45%	0.45%

Transactions with Related Par_7

Transactions with Related Parties - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Fee paid	[1]		$ 0	$ 29,750	$ 0	$ 106,000
Outstanding liabilities due to related parties			1,303,703		1,303,703		$ 1,419,233
Related Party [Member]
Related Party Transaction [Line Items]
Receivables due from unconsolidated entities			178,000		178,000		169,000
Related Party [Member] | Accounts payable, accrued expenses and other liabilities [Member]
Related Party Transaction [Line Items]
Outstanding liabilities due to related parties			$ 578,000		578,000		$ 588,000
Oasis at Twin Lakes GIL [Member]
Related Party Transaction [Line Items]
Amount paid to purchase including principal and accrued interest		$ 34,100,000
Greystone Select [Member]
Related Party Transaction [Line Items]
Fee paid					$ 0
[1] The Partnership has an agreement with an affiliate of Greystone, in which the Greystone affiliate is entitled to receive a referral fee up to 0.25 % of the original principal amount of executed tax-exempt loan or tax-exempt bond transactions introduced to the Partnership by the Greystone affiliate. The term of the agreement ends December 31, 2024, unless the parties mutually agree to extend the term. The Partnership accounts for referral fees as bond acquisition costs that are deferred and amortized as a yield adjustment to the related investment asset. The General Partner

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Range of Effective Yields and Weighted Average Effective Yields of Partnership's Investments (Details)		Jun. 30, 2024	Dec. 31, 2023
Mortgage Revenue Bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Weighted Average Effective Yields	[1],[2]	5.50%	4.80%
Mortgage Revenue Bonds [Member] | Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields	[1]	2.90%	2.30%
Mortgage Revenue Bonds [Member] | Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields	[1]	8.40%	7.70%
Taxable Mortgage Revenue Bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Weighted Average Effective Yields	[2]	8.90%	8.80%
Taxable Mortgage Revenue Bonds [Member] | Effective rate - minimum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		7.10%	6.50%
Taxable Mortgage Revenue Bonds [Member] | Effective rate - maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		11.90%	11.90%
Bond Purchase Commitment [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Range of Effective Yields		4.70%	4.10%
Weighted Average Effective Yields	[2]	4.70%	4.10%
[1] Mortgage revenue bonds excludes the Provision Center 2014-1 MRB as the bankruptcy process is nearly complete. The valuation as of June 30, 2024 is based on expected additional liquidation proceeds of approximately $ 365,000 at final liquidation. Weighted by the total principal outstanding of all the respective securities as of the reporting date

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Range of Effective Yields and Weighted Average Effective Yields of Partnership's Investments (Parenthetical) (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Fair Value Measurements [Abstract]
Additional proceeds from final liquidation	$ 365,000

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Total Assets at Fair Value, net	$ 1,027,285,756	$ 956,882,340
Fair Value Inputs Level 2 [Member]
Schedule of Available-for-sale Securities [Line Items]
Total Assets at Fair Value, net	9,261,172	4,548,704
Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Total Assets at Fair Value, net	1,018,024,584	952,333,636
Mortgage Revenue Bonds Held In Trust [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	990,067,074	883,030,786
Mortgage Revenue Bonds Held In Trust [Member] | Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	990,067,074	883,030,786
Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	11,984,951	47,644,509
Mortgage Revenue Bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	11,984,951	47,644,509
Bond Purchase Commitment [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	46,238	197,788
Bond Purchase Commitment [Member] | Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	46,238	197,788
Taxable Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	15,926,321	21,460,288
Taxable Mortgage Revenue Bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	15,926,321	21,460,288
Derivative Instruments (Reported within Other Assets) [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	9,679,247	5,254,663
Derivative Instruments (Reported within Other Assets) [Member] | Fair Value Inputs Level 2 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	9,679,247	5,254,398
Derivative Instruments (Reported within Other Assets) [Member] | Fair Value, Inputs, Level 3 [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value	0	265
Derivative Swap Liability (reported within other liabilities)
Schedule of Available-for-sale Securities [Line Items]
Liabilities at Fair Value	(418,075)	(705,694)
Derivative Swap Liability (reported within other liabilities) | Fair Value Inputs Level 2 [Member]
Schedule of Available-for-sale Securities [Line Items]
Liabilities at Fair Value	$ (418,075)	$ (705,694)

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Activity Related to Level 3 Assets and Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		$ 953,861,216	$ 886,026,783	$ 952,333,636	$ 816,370,069
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		53,529	$ 1,383,541	118,631	$ 2,772,369
Total gain (losses) Included in earnings (impairment of securities and provision for credit loss)		169,308		169,308
Total gain (losses) Included in earnings (gain on sale of securities)		$ 1,012,581		$ 1,012,581
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]		OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax
Total gain (losses) included in other comprehensive (loss) income		$ (10,696,569)	$ (11,572,946)	$ (22,768,265)	$ 8,937,143
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases and advances		83,452,062	55,679,750	110,749,860	118,107,563
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		(8,221,234)		(8,221,234)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements and redemptions		(1,606,309)	(2,816,007)	(15,369,933)	(17,486,023)
Assets at Fair Value, ending balance		1,018,024,584	928,701,121	1,018,024,584	928,701,121
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets or liabilities held		186,619	9,110	203,543	20,053
Interest Rate Derivative Instruments [Member]
Schedule of Available-for-sale Securities [Line Items]
Derivative Assets (Liabilities) at Fair Value, beginning balance		34	285,145	265	331,240
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		(34)	1,311,754	(265)	2,629,139
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements and redemptions
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements and redemptions			(1,295,275)		(2,658,755)
Derivative Assets (Liabilities) at Fair Value, ending balance		0	301,624	0	301,624
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets or liabilities held		(34)	(8,235)	(265)	(14,259)
Bond Purchase Commitment [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		134,829	211,476	197,788	98,929
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in other comprehensive (loss) income		(88,591)	(73,376)	(151,550)	39,171
Assets at Fair Value, ending balance		46,238	138,100	46,238	138,100
Taxable Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance		10,980,756	18,146,540	21,460,288	16,531,896
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)		(2,894)	(6,049)	(8,944)	(12,099)
Total gain (losses) included in other comprehensive (loss) income		(125,411)	(355,087)	(95,834)	(536,596)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases and advances		5,077,000	4,514,875	6,077,000	6,319,875
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements and redemptions		(3,130)	(2,861)	(11,506,189)	(5,658)
Assets at Fair Value, ending balance		15,926,321	22,297,418	15,926,321	22,297,418
Mortgage Revenue Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Assets at Fair Value, beginning balance	[1]	942,745,597	867,383,622	930,675,295	799,408,004
Total gains (losses) (realized/unrealized) [Abstract]
Total gain (losses) included in earnings (interest income and interest expense)	[1]	56,457	77,836	127,840	155,329
Total gain (losses) Included in earnings (impairment of securities and provision for credit loss)	[1]	169,308		169,308
Total gain (losses) Included in earnings (gain on sale of securities)	[1]	1,012,581		1,012,581
Total gain (losses) included in other comprehensive (loss) income	[1]	(10,482,567)	(11,144,483)	(22,520,881)	9,434,568
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases and advances	[1]	78,375,062	51,164,875	104,672,860	111,787,688
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]	(8,221,234)		(8,221,234)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements and redemptions	[1]	(1,603,179)	(1,517,871)	(3,863,744)	(14,821,610)
Assets at Fair Value, ending balance	[1]	1,002,052,025	905,963,979	1,002,052,025	905,963,979
Total amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets or liabilities held	[1]	$ 186,653	$ 17,345	$ 203,808	$ 34,312
[1] Mortgage revenue bonds includes both bonds held in trust as well as those held by the Partnership.

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Additional Information (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Governmental Issuer Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 215.8	$ 225.7
Taxable Governmental Issuer Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for Sale Security and Property Loan Receivable, Maximum Exposure	$ 2	$ 12.1

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Summary of Fair Value of Partnership's Financial Liabilities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt financing	$ 1,052,526,098	$ 1,015,030,066
Secured lines of credit	41,250,000	33,400,000
Mortgages payable	1,690,000	1,690,000
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Debt financing	1,049,918,127	1,019,218,351
Secured lines of credit	41,250,000	33,400,000
Mortgages payable	$ 1,690,000	$ 1,690,000

Income Tax Provision - Summary

Income Tax Provision - Summary of Income Tax Expense (Benefit) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Provision [Line Items]
Total income tax expense (benefit)	$ (786)	$ (1,149)	$ (1,984)	$ 6,209
Greens Hold Co [Member]
Income Tax Provision [Line Items]
Current income tax expense (benefit)	(10)	(76)	(4,206)	8,264
Deferred income tax benefit	(776)	(1,073)	2,222	(2,055)
Total income tax expense (benefit)	$ (786)	$ (1,149)	$ (1,984)	$ 6,209

Income Tax Provision - Addition

Income Tax Provision - Additional Information (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Valuation allowance	$ 0	$ 0

Partnership Income, Expenses _2

Partnership Income, Expenses and Distributions - Additional Information (Details)	Jun. 30, 2024
Tier 1 [Member] | Limited Partner [Member]
Percent of regular allocations	99%
Tier 1 [Member] | General Partner [Member]
Percent of regular allocations	1%
Tier 2 [Member] | Limited Partner [Member]
Percent of special allocations	75%
Tier 2 [Member] | General Partner [Member]
Percent of special allocations	25%
Tier 3 [Member] | Limited Partner [Member]
Percent of special allocations	100%

Net Income per BUC (Details)

Net Income per BUC (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Dilutive BUCs	0	0	0	0

Segments - Additional Informati

Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 Property Unit Segment Security Bed
Segment Reporting Information [Line Items]
Number of Reportable Segments | Segment	4
Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of Available for Sale Securities | Security	87
Number of Real Estate Properties | Property	2
Seniors and Skilled Nursing Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of rental units financed by mortgage revenue bonds | Bed	294
Residential Properties [Member] | Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of rental units financed by mortgage revenue bonds | Unit	11,622
Number of rental units financed by tax-exempt loan | Unit	1,539
Commercial Real Estate [Member] | Affordable Multifamily Mortgage Revenue Bond Investments Segment [Member]
Segment Reporting Information [Line Items]
Number of collateralized securities | Security	1

Segments - Summary of Partnersh

Segments - Summary of Partnership Reportable Segment Information (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Total revenues
Total revenues		$ 21,969,171	$ 28,303,941	$ 44,339,825	$ 53,241,911
Interest expense
Interest expense		14,898,265	17,602,230	28,702,200	34,290,592
Net result from derivative transactions
Net result from derivative transactions		(1,884,934)	(8,613,747)	(8,152,598)	(7,330,611)
Depreciation expense
Depreciation expense		5,966	405,408	11,933	810,389
Net income
Net income		5,178,136	21,287,172	15,826,517	38,078,394
Total assets
Total assets	[1]	1,528,641,720		1,528,641,720		$ 1,513,400,702
Operating Segments [Member]
Net income
Net income		5,178,136	21,287,172	15,826,517	38,078,394
Operating Segments [Member] | Affordable Multifamily MRB Investments [Member]
Total revenues
Total revenues		19,993,802	22,952,542	39,992,779	44,390,475
Interest expense
Interest expense		13,853,241	17,216,048	26,622,380	33,642,603
Net result from derivative transactions
Net result from derivative transactions		(1,615,398)	(8,371,772)	(7,050,960)	(7,088,636)
Depreciation expense
Depreciation expense		5,966	5,967	11,933	11,913
Net income
Net income		4,137,240	9,780,399	12,673,483	8,978,826
Total assets
Total assets		1,402,754,579		1,402,754,579		1,413,596,701
Operating Segments [Member] | Seniors and Skilled Nursing MRB Investments [Member]
Total revenues
Total revenues		820,347	336,487	1,567,855	433,042
Interest expense
Interest expense		567,096	87,591	1,064,266	87,591
Net result from derivative transactions
Net result from derivative transactions		(269,536)	(241,975)	(1,101,638)	(241,975)
Net income
Net income		307,787	479,871	1,390,227	576,426
Total assets
Total assets		58,420,535		58,420,535		43,532,926
Operating Segments [Member] | Market-Rate Joint Venture Investments [Member]
Total revenues
Total revenues		1,155,022	3,906,556	2,779,191	6,084,418
Interest expense
Interest expense		477,928	298,591	1,015,554	560,398
Net income
Net income		669,370	10,931,529	1,699,068	28,210,796
Total assets
Total assets		162,038,096		162,038,096		140,791,041
Operating Segments [Member] | MF Properties [Member]
Total revenues
Total revenues			1,108,356		2,333,976
Depreciation expense
Depreciation expense			399,441		798,476
Net income
Net income		63,739	$ 95,373	63,739	$ 312,346
Total assets
Total assets		7,991,397		7,991,397		7,034,690
Consolidation, Eliminations [Member]
Total assets
Total assets		$ (102,562,887)		$ (102,562,887)		$ (91,554,656)
[1] The consolidated balance sheets include assets of consolidated VIEs that can only be used to settle obligations of these VIEs that totaled $ 1,281,485,410 and $ 1,247,819,817 as of June 30, 2024 and December 31, 2023, respectively. The consolidated balance sheets include liabilities of the consolidated VIEs for which creditors do not have recourse to the general credit of the Partnership that totaled $ 372,228,109 and $ 374,992,803 as of June 30, 2024 and December 31, 2023, respectively. See Note 3 - Variable Interest Entities for further detail.

Subsequent Events - Summary of

Subsequent Events - Summary of Partnership's Derivative Instruments (Details) - Subsequent Event [Member] - Mizuho [Member]	1 Months Ended
	Jul. 31, 2024 USD ($)
Subsequent Event [Line Items]
Derivative, Trade Date	2024-07
Derivative, Notional Amount	$ 5,075,000
Derivative, Effective Date	Aug. 01, 2024
Derivative, Termination Date	Jul. 01, 2034
Derivative, Fixed Rate Paid	3.905%
Derivative, Variable Rate Index Received	Compounded SOFR
Derivative, Variable Debt Financing Hedged	TOB Trusts

Subsequent Events - Summary o_2

Subsequent Events - Summary of Initial Terms of TOB Trusts Financings (Details) - USD ($)	1 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Subsequent Event [Line Items]
TOB Trust Financing		$ 1,052,526,098	$ 1,015,030,066
T O B Trust [Member]
Subsequent Event [Line Items]
TOB Trust Financing		$ 64,155,000		$ 122,862,000
Subsequent Event [Member] | MRB [Member] | The Centurion Foundation [Member] | T O B Trust [Member]
Subsequent Event [Line Items]
TOB Trust Financing	$ 5,075,000
Stated Maturity	2027-07
Interest Rate Type	Variable
Tax-Exempt Interest on Senior Securities	No
Remarketing Senior Securities Rate	5.59%
Facility Fees	1.79%
Interest Rate	7.38%

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Subsequent Event [Line Items]
Debt financing		$ 1,052,526,098	$ 1,015,030,066
Governmental Issuer Loans [Member]
Subsequent Event [Line Items]
Outstanding principal		$ 133,200,000
Osprey Village [Member] | Forward Purchase Commitments [Member] | Governmental Issuer Loans [Member]
Subsequent Event [Line Items]
Maturity date		Aug. 01, 2024
Legacy Commons at Signal Hills [Member] | Forward Purchase Commitments [Member] | Governmental Issuer Loans [Member]
Subsequent Event [Line Items]
Maturity date		Aug. 01, 2024
TOB [Member]
Subsequent Event [Line Items]
Debt financing		$ 64,155,000		$ 122,862,000
Subsequent Event [Member] | Osprey Village [Member] | Forward Purchase Commitments [Member] | Governmental Issuer Loans [Member]
Subsequent Event [Line Items]
Maturity date	Feb. 01, 2025
Partnership recognized loan fee	$ 150,000
Subsequent Event [Member] | Legacy Commons at Signal Hills [Member] | Forward Purchase Commitments [Member] | Governmental Issuer Loans [Member]
Subsequent Event [Line Items]
Maturity date	Feb. 01, 2025
Partnership recognized loan fee	$ 87,000
Subsequent Event [Member] | TOB [Member] | Southpark MRB [Member]
Subsequent Event [Line Items]
Outstanding principal	12,300,000
Principal Proceeds	$ 9,800,000