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Changes in the general level of interest rates prevailing in the financial markets may affect the spread between the Partnership’s yield on invested assets and cost of funds and, in turn, its ability to make distributions or payments to its investors.
−Removed: As of March 31, 2026, the Partnership, its Subsidiary Partnerships and the Investment Properties collectively have approximately $704,950,000 in long-term debt, substantially all of which require payment of interest at fixed rates.
+Added: As of June 30, 2026, the Partnership, its Subsidiary Partnerships and the Investment Properties collectively have approximately $704,069,000 in long-term debt, substantially all of which require payment of interest at fixed rates.
Accordingly, the fair value of these debt instruments is affected by changes in market interest rates.
This long term debt matures through 2035.
−Removed: Including any outstanding draws under the line of credit, the Partnership, its Subsidiary Partnerships and the Investment Properties collectively have no variable rate debt as of March 31, 2026.
−Removed: The increase or decrease in fair value of the Partnership’s fixed rate debt as of March 31, 2026 would be approximately $26,343,000 if market rates of interest on the Partnership’s variable rate debt increased or decreased by 100 basis points.
+Added: Including any outstanding draws under the line of credit, the Partnership, its Subsidiary Partnerships and the Investment Properties collectively have no variable rate debt as of June 30, 2026.
+Added: The increase or decrease in fair value of the Partnership’s fixed rate debt as of June 30, 2026 would be approximately $25,171,000 if market rates of interest on the Partnership’s variable rate debt increased or decreased by 100 basis points.
For information regarding the fair value and maturity dates of these debt obligations, See Note 5 to the Consolidated Financial Statements — “Mortgage Notes Payable,” Note 12 to the Consolidated Financial Statements — “Fair Value Measurements” and Note 15 to the Consolidated Financial Statements — “Investment in Unconsolidated Joint Ventures ”.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.