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Investments in Unconsolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2020 and December 31, 2019, respectively (dollar amounts in thousands):
|  | September 30, 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% |  | $ | 11,101 |  |  | 45% |  | $ | 10,108 |
Somerset Deerfield Investor, LLC |  | 45% |  | 18,083 |  |  | 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% |  | 4,900 |  |  | 43% |  | 4,878 |
Audubon Mezzanine Holdings, L.L.C. (Series A) |  | 57% |  | 10,994 |  |  | 57% |  | 10,998 |
EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively) |  | 46% |  | 6,871 |  |  | 46% |  | 6,847 |
Walnut Creek Properties Holdings, L.L.C. |  | 36% |  | 8,417 |  |  | 36% |  | 8,288 |
Towers Property Holdings, LLC |  | 37% |  | 11,544 |  |  | 37% |  | 11,278 |
Mansions Property Holdings, LLC |  | 34% |  | 11,124 |  |  | 34% |  | 10,867 |
Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively) |  | 43% |  | 4,127 |  |  | 43% |  | 4,062 |
Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively) |  | 37% |  | 9,514 |  |  | 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% |  | 11,781 |  |  | 53% |  | 11,944 |
DCP Gold Creek, LLC |  | 44% |  | 6,050 |  |  | — |  | — |
1122 Chicago DE, LLC |  | 53% |  | 6,951 |  |  | — |  | — |
Rigsbee Ave Holdings, LLC |  | 56% |  | 9,823 |  |  | — |  | — |
Bighaus, LLC |  | 42% |  | 13,970 |  |  | — |  | — |
Total - Preferred Equity Ownership Interests |  |  |  | $ | 145,250 |  |  |  |  | $ | 106,083 |
The following table presents income from preferred equity ownership interests accounted for under the equity method using the fair value option for the three and nine months ended September 30, 2020 and income from preferred equity ownership interests accounted for under the equity method for the three and nine months ended September 30, 2019 (dollar amounts in thousands). Income from these investments, which includes $6.7 thousand of net unrealized gains and $4.1 million of net unrealized losses during the three and nine months ended September 30, 2020, respectively, is presented in other income in the Company's accompanying condensed consolidated statements of operations.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Investment Name |  | 2020 |  | 2019 |  | 2020 |  | 2019
BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively) |  | $ | 295 |  |  | $ | 299 |  |  | $ | 898 |  |  | $ | 860 |
Somerset Deerfield Investor, LLC |  | 472 |  |  | 506 |  |  | 1,259 |  |  | 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) |  | 125 |  |  | 136 |  |  | 217 |  |  | 401 |
Audubon Mezzanine Holdings, L.L.C. (Series A) |  | 365 |  |  | 310 |  |  | 541 |  |  | 911 |
EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively) |  | 181 |  |  | 192 |  |  | 305 |  |  | 546 |
Walnut Creek Properties Holdings, L.L.C. |  | 280 |  |  | 236 |  |  | 402 |  |  | 564 |
Towers Property Holdings, LLC |  | 380 |  |  | 311 |  |  | 502 |  |  | 322 |
Mansions Property Holdings, LLC |  | 366 |  |  | 300 |  |  | 484 |  |  | 310 |
Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively) |  | 137 |  |  | 70 |  |  | 190 |  |  | 70 |
Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively) |  | 317 |  |  | 96 |  |  | 430 |  |  | 96 |
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) |  | 392 |  |  | — |  |  | 527 |  |  | — |
DCP Gold Creek, LLC |  | 203 |  |  | — |  |  | 305 |  |  | — |
1122 Chicago DE, LLC |  | 226 |  |  | — |  |  | 462 |  |  | — |
Rigsbee Ave Holdings, LLC |  | 326 |  |  | — |  |  | 604 |  |  | — |
Bighaus, LLC |  | 237 |  |  | — |  |  | 237 |  |  | — |
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 September 30, 2020 and December 31, 2019, respectively, consist of the following (dollar amounts in thousands):
|  | September 30, 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 |
Equity investments in entities that invest in residential properties and loans |  |  |  |  |  |  |  |
Morrocroft Neighborhood Stabilization Fund II, LP |  | 11% |  | 12,602 |  |  | 11% |  | 11,796 |
Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I) |  | 49% |  | 60,854 |  |  | 49% |  | 53,776 |
Total - Equity Ownership Interests |  |  |  | $ | 73,456 |  |  |  |  | $ | 83,882 |
The following table presents income from these investments for the three and nine months ended September 30, 2020 and 2019, respectively (dollar amounts in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Investment Name |  | 2020 |  | 2019 |  | 2020 |  | 2019
Joint venture equity investments in multi-family properties |  |  |  |  |  |  |  |
Evergreens JV Holdings, LLC (1) |  | $ | — |  |  | $ | 536 |  |  | $ | — |  |  | $ | 5,049 |
The Preserve at Port Royal Venture, LLC (2) |  | 122 |  |  | 449 |  |  | (949) |  |  | 1,295 |
Equity investments in entities that invest in residential properties and loans |  |  |  |  |  |  |  |
Morrocroft Neighborhood Stabilization Fund II, LP |  | 515 |  |  | 215 |  |  | 1,080 |  |  | 610 |
Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I) |  | 5,027 |  |  | 215 |  |  | 7,078 |  |  | 215 |
(1)The Company's equity investment was redeemed during the year ended December 31, 2019. (2)The Company's equity investment was redeemed during the three months ended September 30, 2020.

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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 http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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