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Investments in Unconsolidated Real Estate (Tables) | 6 Months Ended
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Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Summary of Investments in Unconsolidated Real Estate | The following table summarizes our investments in unconsolidated real estate entities as of June 30, 2022 and December 31, 2021:
|  |  |  |  |  |  |  | Carrying Value As Of
Investments in Unconsolidated Real Estate |  | Location |  | Units(1) (Unaudited) |  | IRT Ownership Interest |  | June 30, 2022 |  | December 31, 2021
Metropolis at Innsbrook |  | Richmond, VA |  | 402 |  | 84.8 | % |  | $ | 16,968 |  |  | $ | 14,632 |
Views of Music City / The Jackson |  | Nashville, TN |  | 408 |  | 50.0 | % |  | 6,887 |  |  | 10,368 |
Virtuoso |  | Huntsville, AL |  | 400 |  | 90.0 | % |  | 15,640 |  |  | — |
Lakeline Station |  | Austin, TX |  | 378 |  | 90.0 | % |  | 14,683 |  |  | — |
Total |  |  |  | 1,588 |  |  |  | $ | 54,178 |  |  | $ | 24,999 |
(1)Represents the total number of units after development is complete and each property is placed in service. As of June 30, 2022 only the Virtuoso investment’s development is complete and has ongoing operations.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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