XML 127 R82.htm IDEA: XBRL DOCUMENT v3.19.3
Debt Financing - Schedule of Total Debt Financing (Details) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Debt Instrument [Line Items]    
Debt financing $ 538,812,130 $ 505,663,565
Period End Rates 4.96% 4.96%
Variable - M31 [Member]    
Debt Instrument [Line Items]    
Stated Maturities   2024-07
Variable - M33 [Member]    
Debt Instrument [Line Items]    
Stated Maturities 2030-09 2030-09
Variable - M24 [Member]    
Debt Instrument [Line Items]    
Stated Maturities 2027-05 2027-05
TEBS Financings [Member] | Fixed - M24 [Member]    
Debt Instrument [Line Items]    
Debt financing $ 40,792,062  
Restricted Cash $ 98,007  
Year Acquired 2010  
Stated Maturities 2027-05  
Reset Frequency N/A  
Period End Rates 3.05%  
TEBS Financings [Member] | Fixed - M45 [Member]    
Debt Instrument [Line Items]    
Debt financing [1] $ 218,030,897 $ 219,250,387
Restricted Cash [1] $ 5,000 $ 5,000
Year Acquired [1] 2018 2018
Stated Maturities [1] 2034-07 2034-07
Reset Frequency [1] N/A N/A
Period End Rates [1] 3.82% 3.82%
TEBS Financings [Member] | Variable - M31 [Member]    
Debt Instrument [Line Items]    
Debt financing $ 79,885,290 [2] $ 80,418,505 [3]
Restricted Cash $ 4,999 [2] $ 181,626 [3]
Year Acquired 2014 [2] 2014 [3]
Stated Maturities 2024-07 [2] 2019-07 [3]
Reset Frequency Weekly [2] Weekly [3]
SIFMA Based Rates 1.61% [2] 1.74% [3]
Facility Fees 1.42% [2] 1.49% [3]
Period End Rates 3.03% [2] 3.23% [3]
TEBS Financings [Member] | Fixed - M33 [Member]    
Debt Instrument [Line Items]    
Debt financing $ 31,638,938  
Restricted Cash $ 2,606  
Year Acquired 2015  
Stated Maturities 2030-09  
Reset Frequency N/A  
Period End Rates 3.24%  
TEBS Financings [Member] | Variable - M33 [Member]    
Debt Instrument [Line Items]    
Debt financing [4]   $ 31,262,039
Restricted Cash [4]   $ 58,002
Year Acquired [4]   2015
Stated Maturities [4]   2020-07
Reset Frequency [4]   Weekly
SIFMA Based Rates [4]   1.74%
Facility Fees [4]   1.26%
Period End Rates [4]   3.00%
TEBS Financings [Member] | Variable - M24 [Member]    
Debt Instrument [Line Items]    
Debt financing [5]   $ 41,466,000
Restricted Cash [5]   $ 432,998
Year Acquired [5]   2010
Stated Maturities [5]   2020-09
Reset Frequency [5]   Weekly
SIFMA Based Rates [5]   1.76%
Facility Fees [5]   1.85%
Period End Rates [5]   3.61%
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term TOB [Member] | Deutsche Bank [Member]    
Debt Instrument [Line Items]    
Debt financing $ 8,010,000 $ 46,675,413
Year Acquired 2014 2014
Stated Maturities 2019-10 2019-10
Reset Frequency N/A N/A
Period End Rates 4.01%  
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term TOB [Member] | Deutsche Bank [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Period End Rates   4.01%
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term TOB [Member] | Deutsche Bank [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Period End Rates   4.39%
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term TOB [Member] | Morgan Stanley Bank [Member]    
Debt Instrument [Line Items]    
Debt financing $ 13,078,992  
Year Acquired 2019  
Stated Maturities 2022-05  
Reset Frequency N/A  
Period End Rates 3.53%  
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term A/B I [Member] | Deutsche Bank [Member]    
Debt Instrument [Line Items]    
Debt financing $ 5,256,054 $ 10,516,000
Year Acquired 2019 2018
Stated Maturities 2020-02 2019-05
Reset Frequency N/A N/A
Period End Rates 4.53% 4.53%
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB I [Member] | Mizuho Capital Markets [Member]    
Debt Instrument [Line Items]    
Debt financing $ 25,645,347  
Year Acquired 2019  
Stated Maturities 2020-07  
Reset Frequency Weekly  
SIFMA Based Rates 1.68%  
Facility Fees 1.17%  
Period End Rates 2.85%  
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term A/B II [Member] | Deutsche Bank [Member]    
Debt Instrument [Line Items]    
Debt financing $ 38,404,644 $ 38,455,221
Year Acquired 2017 2017
Stated Maturities 2027-02 2027-02
Reset Frequency N/A N/A
Period End Rates 4.46% 4.46%
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB II [Member] | Mizuho Capital Markets [Member]    
Debt Instrument [Line Items]    
Debt financing $ 42,228,417  
Year Acquired 2019  
Stated Maturities 2020-08  
Reset Frequency Weekly  
SIFMA Based Rates 1.68%  
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB II [Member] | Mizuho Capital Markets [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Facility Fees 1.17%  
Period End Rates 2.85%  
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB II [Member] | Mizuho Capital Markets [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Facility Fees 1.66%  
Period End Rates 3.34%  
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB III [Member] | Mizuho Capital Markets [Member]    
Debt Instrument [Line Items]    
Debt financing $ 35,841,489  
Year Acquired 2019  
Stated Maturities 2020-09  
Reset Frequency Weekly  
SIFMA Based Rates 2.03%  
Facility Fees 1.12%  
Period End Rates 3.15%  
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB [Member] | Deutsche Bank [Member]    
Debt Instrument [Line Items]    
Debt financing   $ 37,620,000
Year Acquired   2012
Stated Maturities   2019-05
Reset Frequency   Weekly
SIFMA Based Rates   2.21%
Facility Fees   1.67%
Period End Rates   3.88%
[1] The M45 TEBS has an initial interest rate of 3.82% through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39%. These rates are inclusive of credit enhancement fees payable to Freddie Mac.
[2] Facility fees are variable.
[3] In June 2019, the Partnership exercised its unilateral right to extend the financing for an additional five-year period through July 2024. Facility fees are variable.
[4] In July 2019, the Partnership refinanced the M33 TEBS Financing with Freddie Mac. After refinancing, the M33 TEBS Financing has a fixed interest rate of 3.24% and a stated maturity of  September 2030.
[5] In July 2019, the Partnership refinanced the M24 TEBS Financing with Freddie Mac. After refinancing, the M24 TEBS Financing has a fixed interest rate of 3.05% and a stated maturity of  May 2027.