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Investments in Unconsolidated Entities (Tables)
 3 Months Ended
Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in Unconsolidated Entities The Company's preferred equity ownership interests accounted for under the equity method consist of the following as of March 31, 2020 and December 31, 2019, respectively (dollar amounts in thousands):

 
 
March 31, 2020

December 31, 2019
Investment Name
 
Ownership Interest
 
Fair Value
 
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%
 
$
10,491

 
45%
 
$
10,108

Somerset Deerfield Investor, LLC
 
45%
 
17,385

 
45%
 
17,417

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%
 
4,804

 
43%
 
4,878

Audubon Mezzanine Holdings, L.L.C. (Series A)
 
57%
 
10,764

 
57%
 
10,998

EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively)
 
46%
 
6,693

 
46%
 
6,847

Walnut Creek Properties Holdings, L.L.C.
 
36%
 
8,200

 
36%
 
8,288

Towers Property Holdings, LLC
 
37%
 
11,174

 
37%
 
11,278

Mansions Property Holdings, LLC
 
34%
 
10,767

 
34%
 
10,867

Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively)
 
43%
 
4,023

 
43%
 
4,062

Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively)
 
37%
 
9,278

 
37%
 
9,396

Axis Apartments Holdings, LLC, Arbor-Stratford Holdings II, LLC - Series B, Highlands - Mtg. Holdings, LLC - Series B, Oakley Shoals Apartments, LLC - Series C, and Woodland Park Apartments II, LLC (collectively)
 
53%
 
11,505

 
53%
 
11,944

DCP Gold Creek, LLC
 
44%
 
5,806

 
—
 
—

1122 Chicago DE, LLC
 
53%
 
6,633

 
—
 
—

Rigsbee Ave Holdings, LLC
 
56%
 
9,342

 
—
 
—

Total - Preferred Equity Ownership Interests
 
 
 
$
126,865

 
 
 
$
106,083


The Company's equity ownership interests in entities that invest in multi-family properties and residential properties and loans that are included in investments in unconsolidated entities and are accounted for under the equity method using the fair value option as of both March 31, 2020 and December 31, 2019, respectively, consist of the following (dollar amounts in thousands):
 
 
March 31, 2020
 
December 31, 2019
Investment Name
 
Ownership Interest
 
Fair Value
 
Ownership Interest
 
Fair Value
Joint venture equity investments in multi-family properties
 
 
 
 
 
 
 
 
The Preserve at Port Royal Venture, LLC
 
77%
 
18,310

 
77%
 
18,310

Equity investments in entities that invest in residential properties and loans
 
 
 
 
 
 
 
 
Morrocroft Neighborhood Stabilization Fund II, LP
 
11%
 
12,014

 
11%
 
11,796

Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I)
 
49%
 
54,776

 
49%
 
53,776

Total - Equity Ownership Interests
 
 
 
$
85,100

 
 
 
$
83,882



The following table presents income from preferred equity ownership interests accounted for under the equity method using the fair value option for the three months ended March 31, 2020 and income from preferred equity ownership interests accounted for under the equity method for the three months ended March 31, 2019 (dollar amounts in thousands). Income from these investments, which includes $4.3 million of net unrealized losses, is presented in other income in the Company's accompanying condensed consolidated statements of operations.    
 
 
Three Months Ended March 31,
Investment Name
 
2020
 
2019
BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively)
 
$
245

 
$
275

Somerset Deerfield Investor, LLC
 
159

 
478

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)
 
(66
)
 
131

Audubon Mezzanine Holdings, L.L.C. (Series A)
 
(109
)
 
297

EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively)
 
(101
)
 
165

Walnut Creek Properties Holdings, L.L.C.
 
(94
)
 
98

Towers Property Holdings, LLC
 
(161
)
 
—

Mansions Property Holdings, LLC
 
(155
)
 
—

Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively)
 
(54
)
 
—

Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively)
 
(131
)
 
—

Axis Apartments Holdings, LLC, Arbor-Stratford Holdings II, LLC - Series B, Highlands - Mtg. Holdings, LLC - Series B, Oakley Shoals Apartments, LLC - Series C, and Woodland Park Apartments II, LLC (collectively)
 
(169
)
 
—

DCP Gold Creek, LLC
 
(120
)
 
—

1122 Chicago DE, LLC
 
(60
)
 
—

Rigsbee Ave Holdings, LLC
 
(147
)
 
—


The following table presents income from these investments for the three months ended March 31, 2020 and 2019, respectively (dollar amounts in thousands):    
 
 
Three Months Ended March 31,
Investment Name
 
2020
 
2019
Joint venture equity investments in multi-family properties
 
 
 
 
Evergreens JV Holdings, LLC (1)
 
$
—

 
$
3,224

The Preserve at Port Royal Venture, LLC
 
239

 
438

Equity investments in entities that invest in residential properties and loans
 
 
 
 
Morrocroft Neighborhood Stabilization Fund II, LP
 
218

 
232

Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I)
 
1,000

 
—


(1) 
The Company's equity investment was redeemed during the year ended December 31, 2019.