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Investments in Unconsolidated Entities | 9 Months Ended
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Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Entities | Investments in Unconsolidated Entities The Company's investments in unconsolidated entities accounted for under the equity method are comprised of preferred equity ownership interests in entities that invest in multi-family properties where the risks and payment characteristics are equivalent to an equity investment and consist of the following as of September 30, 2019 and December 31, 2018 (dollar amounts in thousands):
|  | September 30, 2019 |  | December 31, 2018
Investment Name |  | Ownership Interest |  | Carrying Amount |  | Ownership Interest |  | Carrying Amount
BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively) |  | 45% |  | $ | 9,802 |  |  | 45% |  | $ | 8,948 |
Somerset Deerfield Investor, LLC |  | 45% |  | 17,102 |  |  | 45% |  | 16,266 |
RS SWD Owner, LLC, RS SWD Mitchell Owner, LLC, RS SWD IF Owner, LLC, RS SWD Mullis Owner, LLC, RS SWD JH Mullis Owner, LLC and RS SWD Saltzman Owner, LLC (collectively) |  | 43% |  | 4,834 |  |  | 43% |  | 4,714 |
Audubon Mezzanine Holdings, L.L.C. (Series A) |  | 57% |  | 10,895 |  |  | 57% |  | 10,544 |
EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively) |  | 46% |  | 6,765 |  |  | — |  | — |
Walnut Creek Properties Holdings, L.L.C. |  | 36% |  | 8,189 |  |  | — |  | — |
Towers Property Holdings, LLC |  | 37% |  | 11,099 |  |  | — |  | — |
Mansions Property Holdings, LLC |  | 34% |  | 10,695 |  |  | — |  | — |
Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively) |  | 43% |  | 4,015 |  |  | — |  | — |
Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively) |  | 37% |  | 9,288 |  |  | — |  | — |
Total - Equity Method |  |  |  | $ | 92,684 |  |  |  |  | $ | 40,472 |
The Company's investments in unconsolidated entities accounted for under the equity method using the fair value option consist of the following as of September 30, 2019 and December 31, 2018 (dollar amounts in thousands):
|  | September 30, 2019 |  | December 31, 2018
Investment Name |  | Ownership Interest |  | Carrying Amount |  | Ownership Interest |  | Carrying Amount
Joint venture equity investments in multi-family properties |  |  |  |  |  |  |  |
Evergreens JV Holdings, LLC (1) |  | — |  | $ | — |  |  | 85% |  | $ | 8,200 |
The Preserve at Port Royal Venture, LLC |  | 77% |  | 14,470 |  |  | 77% |  | 13,840 |
Equity investments in entities that invest in residential properties and loans |  |  |  |  |  |  |  |
Morrocroft Neighborhood Stabilization Fund II, LP |  | 11% |  | 11,564 |  |  | 11% |  | 10,954 |
Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I) |  | 49% |  | 50,215 |  |  | — |  | — |
Total - Fair Value Option |  |  |  | $ | 76,249 |  |  |  |  | $ | 32,994 |
(1) | The Company's equity investment was redeemed during the three months ended September 30, 2019.
The following table presents income from investments in unconsolidated entities accounted for under the equity method for the three and nine months ended September 30, 2019 and 2018, respectively (dollar amounts in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Investment Name |  | 2019 |  | 2018 |  | 2019 |  | 2018
BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively) |  | $ | 299 |  |  | $ | 265 |  |  | $ | 860 |  |  | $ | 777 |
Somerset Deerfield Investor, LLC |  | 506 |  |  | — |  |  | 1,477 |  |  | — |
RS SWD Owner, LLC, RS SWD Mitchell Owner, LLC, RS SWD IF Owner, LLC, RS SWD Mullis Owner, LLC, RS SWD JH Mullis Owner, LLC and RS SWD Saltzman Owner, LLC (collectively) |  | 136 |  |  | — |  |  | 401 |  |  | — |
Audubon Mezzanine Holdings, L.L.C. (Series A) |  | 310 |  |  | — |  |  | 911 |  |  | — |
EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively) |  | 192 |  |  | — |  |  | 546 |  |  | — |
Walnut Creek Properties Holdings, L.L.C. |  | 236 |  |  | — |  |  | 564 |  |  | — |
Towers Property Holdings, LLC |  | 311 |  |  | — |  |  | 322 |  |  | — |
Mansions Property Holdings, LLC |  | 300 |  |  | — |  |  | 310 |  |  | — |
Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively) |  | 70 |  |  | — |  |  | 70 |  |  | — |
Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively) |  | 96 |  |  | — |  |  | 96 |  |  | — |
The following table presents income from investments in unconsolidated entities accounted for under the equity method using the fair value option for the three and nine months ended September 30, 2019 and 2018, respectively (dollar amounts in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Investment Name |  | 2019 |  | 2018 |  | 2019 |  | 2018
Joint venture equity investments in multi-family properties |  |  |  |  |  |  |  |
Evergreens JV Holdings, LLC (1) |  | $ | 536 |  |  | $ | 3,643 |  |  | $ | 5,049 |  |  | $ | 4,008 |
The Preserve at Port Royal Venture, LLC |  | 449 |  |  | 449 |  |  | 1,295 |  |  | 1,351 |
WR Savannah Holdings, LLC (2) |  | — |  |  | 113 |  |  | — |  |  | 1,743 |
Equity investments in entities that invest in residential properties and loans |  |  |  |  |  |  |  |
Morrocroft Neighborhood Stabilization Fund II, LP |  | 215 |  |  | 149 |  |  | 610 |  |  | 829 |
Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I) |  | 215 |  |  | — |  |  | 215 |  |  | — |
(1) | Includes income recognized from redemption of the Company's investment during the three and nine months ended September 30, 2019.
(2) Includes income recognized from redemption of the Company's investment during the three and nine months ended September 30, 2018.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SX 210.3A-04) -URI http://asc.fasb.org/extlink&oid=116822174&loc=d3e355119-122828 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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