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Investments in Unconsolidated Entities | 12 Months Ended
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Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Entities | estment in Unconsolidated Entities The Company's investments in unconsolidated entities accounted for under the equity method consist of the following as of December 31, 2017 and December 31, 2016 (dollar amounts in thousands):
|  | December 31, 2017 |  | December 31, 2016
Investment Name |  | Ownership Interest |  | Carrying Amount |  | Ownership Interest |  | Carrying Amount
Autumnwood Investments LLC |  | — |  |  | $ | — |  |  | — |  |  | $ | 2,092 |
200 RHC Hoover, LLC (1) |  | — |  |  | — |  |  | 63 | % |  | 8,886 |
BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively) |  | 45 | % |  | 8,320 |  |  | 45 | % |  | 7,949 |
Total - Equity Method |  |  |  | $ | 8,320 |  |  |  |  | $ | 18,927 |
(1) | On March 31, 2017, the Company reconsidered its evaluation of its variable interest in 200 RHC Hoover, LLC ("Riverchase Landing") and determined that it became the primary beneficiary of Riverchase Landing. Accordingly, on this date, the Company consolidated Riverchase Landing into its consolidated financial statements (see Note 10).
The Company's investments in unconsolidated entities accounted for under the equity method using the fair value option consist of the following as of December 31, 2017 and December 31, 2016 (dollar amounts in thousands):
|  | December 31, 2017 |  | December 31, 2016
Investment Name |  | Ownership Interest |  | Carrying Amount |  | Ownership Interest |  | Carrying Amount
Morrocroft Neighborhood Stabilization Fund II, LP |  | 11 | % |  | $ | 12,623 |  |  | 11 | % |  | $ | 9,732 |
Evergreens JV Holdings, LLC |  | 85 | % |  | 4,220 |  |  | 85 | % |  | 3,810 |
Bent Tree JV Holdings, LLC |  | — |  |  | — |  |  | 78 | % |  | 9,890 |
Summerchase LR Partners LLC |  | — |  |  | — |  |  | 80 | % |  | 4,410 |
Lake Mary Realty Partners, LLC |  | — |  |  | — |  |  | 80 | % |  | 7,690 |
The Preserve at Port Royal Venture, LLC |  | 77 | % |  | 13,040 |  |  | 77 | % |  | 12,280 |
WR Savannah Holdings, LLC |  | 90 | % |  | 12,940 |  |  | 90 | % |  | 12,520 |
Total - Fair Value Option |  |  |  | $ | 42,823 |  |  |  |  | $ | 60,332 |
The following table presents income (loss) from investments in unconsolidated entities for the years ended December 31, 2017, 2016, and 2015 (dollar amounts in thousands):
|  | For the Years Ended December 31,
Investment Name |  | 2017 |  | 2016 |  | 2015
Autumnwood Investments LLC (1) |  | $ | 265 |  |  | $ | 260 |  |  | $ | 281 |
200 RHC Hoover, LLC |  | 275 |  |  | 1,370 |  |  | 394 |
BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively) |  | 996 |  |  | 433 |  |  | — |
RiverBanc LLC (2) |  | — |  |  | 125 |  |  | 815 |
Kiawah River View Investors LLC ("KRVI") (2) |  | — |  |  | 1,250 |  |  | 866 |
RB Development Holding Company, LLC (2) |  | — |  |  | 107 |  |  | (9 | )
RB Multifamily Investors LLC (2) |  | — |  |  | 2,262 |  |  | 5,263 |
Morrocroft Neighborhood Stabilization Fund II, LP |  | 1,591 |  |  | 910 |  |  | 254 |
Evergreens JV Holdings, LLC |  | 571 |  |  | 199 |  |  | — |
Bent Tree JV Holdings, LLC (1) |  | 1,795 |  |  | 411 |  |  | — |
Summerchase LR Partners LLC (1) |  | 569 |  |  | 380 |  |  | — |
Lake Mary Realty Partners, LLC (1) |  | 2,745 |  |  | 554 |  |  | — |
The Preserve at Port Royal Venture, LLC |  | 1,729 |  |  | 834 |  |  | — |
WR Savannah Holdings, LLC |  | 1,386 |  |  | 692 |  |  | — |
(1) | Includes income recognized from redemption of the Company's investment during the year ended December 31, 2017.
(2) | As of May 16, 2016, RiverBanc LLC, RB Development Holding Company, LLC, and RB Multifamily Investors LLC became wholly-owned subsidiaries of the Company as a result of the Company's acquisition of the remaining ownership interests in those entities held by other unaffiliated entities (see Note 23). Also as of May 16, 2016, the Company consolidated KRVI into its consolidated financial statements (see Note 10).
Summary combined financial information for the Company's investments in unconsolidated entities as of December 31, 2017 and December 31, 2016 and for the years ended December 31, 2017, 2016, and 2015 is shown below (dollar amounts in thousands).
|  | December 31, 2017 |  | December 31, 2016
Balance Sheets: |  |  |  |
Real estate, net |  | $ | 332,344 |  |  | $ | 346,078 |
Other assets |  | 16,223 |  |  | 16,042 |
Total assets |  | $ | 348,567 |  |  | $ | 362,120 |
Notes payable, net |  | $ | 247,749 |  |  | $ | 236,388 |
Other liabilities |  | 6,735 |  |  | 6,686 |
Total liabilities |  | 254,484 |  |  | 243,074 |
Members' equity |  | 94,083 |  |  | 119,046 |
Total liabilities and members' equity |  | $ | 348,567 |  |  | $ | 362,120 |
|  | For the Years Ended December 31,
|  | 2017 |  | 2016 |  | 2015
Operating Statements: (1) |  |  |  |  |  |
Rental revenues |  | $ | 37,196 |  |  | $ | 26,397 |  |  | $ | 2,121 |
Real estate sales |  | 92,900 |  |  | — |  |  | — |
Cost of real estate sales |  | (55,544 | ) |  | — |  |  | — |
Other income |  | 2,906 |  |  | 3,131 |  |  | 3,732 |
Operating expenses |  | (21,375 | ) |  | (19,227 | ) |  | (9,267 | )
Income (loss) before debt service, acquisition costs, and depreciation and amortization |  | 56,083 |  |  | 10,301 |  |  | (3,414 | )
Interest expense |  | (16,704 | ) |  | (6,149 | ) |  | (356 | )
Acquisition costs |  | (432 | ) |  | (1,448 | ) |  | (1,660 | )
Depreciation and amortization |  | (13,659 | ) |  | (15,879 | ) |  | (1,711 | )
Net income (loss) |  | $ | 25,288 |  |  | $ | (13,175 | ) |  | $ | (7,141 | )
(1) | The Company records income (loss) from investments in unconsolidated entities under either the equity method of accounting or the fair value option. Accordingly, the combined net income (loss) shown above is not indicative of the income recognized by the Company from investments in unconsolidated entities.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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