Secured Lines of Credit (Tables)

3 Months Ended

Mar. 31, 2026

Secured Line Of Credit Facility [Member]

Line of Credit Facility [Line Items]

The following tables summarize the Partnership’s LOCs as of March 31, 2026 and December 31, 2025:


Secured Lines of Credit	Outstanding as of March 31, 2026		Total Commitment		Commitment Maturity	Variable / Fixed	Reset Frequency	Period End Rate
General LOC	$	50,000,000	$	50,000,000	June 2027 (1)	Variable (2)	Monthly		7.17	%
Acquisition LOC		39,950,000		80,000,000	June 2027 (3)	Variable (4)	Monthly		6.17	%
	$	89,950,000	$	130,000,000

(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 0.05% 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, 2025		Total Commitment		Commitment Maturity	Variable / Fixed	Reset Frequency	Period End Rate
General LOC	$	50,000,000	$	50,000,000	June 2027 (1)	Variable (2)	Monthly		7.32	%
Acquisition LOC		30,850,000		80,000,000	June 2027 (3)	Variable (4)	Monthly		6.23	%
	$	80,850,000	$	130,000,000

(1)

(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 0.05% extension fee.

(4)

The variable rate is equal to 2.50% plus a variable component based on the Term SOFR.