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.