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Investments in Unconsolidated Real Estate (Tables)

6 Months Ended

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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- References

No definition available.

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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

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