9. Other Assets

The Partnership has remaining commitments to provide additional funding of taxable MRBs and taxable GIL's during construction and/or rehabilitation of the secured properties as of March 31, 2026. See Note 16 for further information regarding the Partnership’s remaining taxable GIL and taxable MRB funding commitments.

As of the dates of acquisition of the SC MF properties (Note 8), the Partnership also recorded in-place lease intangible assets at fair value that are being amortized on a straight-line basis over six months from the date of acquisition of the respective properties. Accumulated amortization and amortization expense as of and for the three months ended March 31, 2026 was approximately $1.6 million.

See Note 10 for information regarding the Partnership’s allowance for credit losses related to its taxable GILs and taxable MRBs.

See Note 20 for a description of the methodology and significant assumptions for determining the fair value of derivative instruments, taxable MRBs, taxable GILs, and bond purchase commitments. Unrealized gains or losses on derivative instruments are reported within “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 March 31, 2026, six taxable MRBs and three taxable GILs with reported carrying values totaling approximately $81.5 million were held in trust in connection with TOB trust financings (Note 13).

Activity in the First Three Months of 2026

During the three months ended March 31, 2026, three taxable MRBs were redeemed via deed in lieu of foreclosure. See Note 8 for further information regarding the deed in lieu of foreclosure transactions. The following table provides details of the MRBs that were redeemed:

During the three months ended March 31, 2026, the Partnership provided additional funding of approximately $4.0 million to the Residency at the Entrepreneur - Series J-T taxable MRB and extended the maturity date to July 2026. There were no additional changes to terms associated with the increased commitment. The following table summarizes terms of the amended taxable MRB:

Activity in the First Three Months of 2025

In February 2025, the borrower for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs re-allocated $5.2 million, $1.8 million, and $5.7 million, respectively, from a taxable GIL to a GIL (Note 5). There were no additional material changes to terms associated with the Poppy Grove I, Poppy Grove II, and Poppy Grove III GILs and taxable GILs. The following table summarizes terms of the principal repaid: