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Investments in Unconsolidated Real Estate (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investments in Unconsolidated Real Estate

The following table summarizes our investments in unconsolidated real estate entities as of December 31, 2022 and December 31, 2021:

																								Carrying Value As Of
Investments in Unconsolidated Real Estate Entities						Location						Units(1) (Unaudited)						IRT Ownership Interest						December 31, 2022						December 31, 2021
Metropolis at Innsbrook						Richmond, VA						402						84.8		%				$	17,331					$	14,632
Views of Music City II / The Crockett						Nashville, TN						408						50.0		%				11,363						10,368
Virtuoso						Huntsville, AL						178						90.0		%				14,422						—
Lakeline Station						Austin, TX						378						90.0		%				25,292						—
The Mustang						Dallas, TX						275						85.0		%				11,812						—
Total												1,641												$	80,220					$	24,999

(1)Represents the total number of units after development is complete and each property is placed in service. As of December 31, 2022 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 https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

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