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Equity Investments, at Fair Value (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]      
Gain (loss) from equity investments $ 3,399 $ 494  
Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) from equity investments $ 100 4,300  
Investment in unconsolidated entities | Morrocroft Neighborhood Stabilization Fund II, LP      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 11.00%   11.00%
Fair Value $ 14,228   $ 13,040
Change in fair value, gain (loss) $ 1,188 218  
Investment in unconsolidated entities | Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 49.00%   49.00%
Fair Value $ 60,002   $ 63,290
Change in fair value, gain (loss) (3,288) 1,000  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value 185,835   $ 182,765
Change in fair value, gain (loss) $ 5,499 (963)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 45.00%   45.00%
Fair Value $ 11,788   $ 11,441
Change in fair value, gain (loss) $ 347 245  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Somerset Deerfield Investor, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 45.00%   45.00%
Fair Value $ 18,978   $ 18,792
Change in fair value, gain (loss) $ 466 159  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | 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)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 43.00%   43.00%
Fair Value $ 5,264   $ 5,140
Change in fair value, gain (loss) $ 124 (66)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Audubon Mezzanine Holdings, L.L.C. (Series A)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 57.00%   57.00%
Fair Value $ 11,771   $ 11,456
Change in fair value, gain (loss) $ 364 (109)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 46.00%   46.00%
Fair Value $ 7,300   $ 7,234
Change in fair value, gain (loss) $ 179 (101)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Walnut Creek Properties Holdings, L.L.C.      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 36.00%   36.00%
Fair Value $ 8,940   $ 8,803
Change in fair value, gain (loss) $ 277 (94)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Towers Property Holdings, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 37.00%   37.00%
Fair Value $ 12,333   $ 12,119
Change in fair value, gain (loss) $ 379 (161)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Mansions Property Holdings, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 34.00%   34.00%
Fair Value $ 11,885   $ 11,679
Change in fair value, gain (loss) $ 365 (155)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 43.00%   43.00%
Fair Value $ 4,385   $ 4,320
Change in fair value, gain (loss) $ 135 (54)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 37.00%   37.00%
Fair Value $ 10,117   $ 9,966
Change in fair value, gain (loss) $ 314 (131)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | 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)      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 53.00%   53.00%
Fair Value $ 12,515   $ 12,337
Change in fair value, gain (loss) $ 388 (169)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | DCP Gold Creek, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 44.00%   44.00%
Fair Value $ 6,469   $ 6,357
Change in fair value, gain (loss) $ 202 (120)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | 1122 Chicago DE, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 53.00%   53.00%
Fair Value $ 7,342   $ 7,222
Change in fair value, gain (loss) $ 221 (60)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Rigsbee Ave Holdings, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 56.00%   56.00%
Fair Value $ 10,398   $ 10,222
Change in fair value, gain (loss) $ 320 (147)  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Bighaus, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 42.00%   42.00%
Fair Value $ 14,751   $ 14,525
Change in fair value, gain (loss) $ 436 0  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | FF/RMI 20 Midtown, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 51.00%   51.00%
Fair Value $ 24,243   $ 23,936
Change in fair value, gain (loss) $ 746 0  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests | Lurin-RMI, LLC      
Schedule of Equity Method Investments [Line Items]      
Ownership Interest 38.00%   38.00%
Fair Value $ 7,356   $ 7,216
Change in fair value, gain (loss) 236 0  
Investment in unconsolidated entities | Single-Family Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value 74,230   76,330
Change in fair value, gain (loss) (2,100) 1,218  
Investment in unconsolidated entities | Preferred Equity Ownership Interests      
Schedule of Equity Method Investments [Line Items]      
Fair Value 260,065   $ 259,095
Investment in unconsolidated entities | Joint Venture Equity Investments In Multi-family Properties      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) from equity investments   200  
Change in fair value, gain (loss) 0 239  
Investment in unconsolidated entities | Joint Venture Equity Investments In Multi-family Properties | The Preserve at Port Royal Venture, LLC      
Schedule of Equity Method Investments [Line Items]      
Change in fair value, gain (loss) $ 0 $ 239