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Equity Investments, at Fair Value (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]          
Gain (loss) from equity investments $ 10,607 $ 4,112 $ 14,006 $ 4,606  
Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Gain (loss) from equity investments 800 200 900 4,100  
Investment in unconsolidated entities | Morrocroft Neighborhood Stabilization Fund II, LP          
Schedule of Equity Method Investments [Line Items]          
Change in fair value, gain (loss) 998 347 2,186 565  
Investment in unconsolidated entities | Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I) (1)          
Schedule of Equity Method Investments [Line Items]          
Change in fair value, gain (loss) 3,273 1,051 (15) 2,051  
Investment in unconsolidated entities | Multi-Family Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Fair Value 189,746   189,746   $ 182,765
Change in fair value, gain (loss) $ 6,336 4,024 $ 11,835 3,062  
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%   45.00%
Fair Value $ 12,145   $ 12,145   $ 11,441
Change in fair value, gain (loss) $ 357 358 $ 704 603  
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%   45.00%
Fair Value $ 19,373   $ 19,373   $ 18,792
Change in fair value, gain (loss) $ 675 627 $ 1,141 787  
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%   43.00%
Fair Value $ 5,438   $ 5,438   $ 5,140
Change in fair value, gain (loss) $ 174 158 $ 298 92  
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%   57.00%
Fair Value $ 12,078   $ 12,078   $ 11,456
Change in fair value, gain (loss) $ 357 284 $ 721 175  
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%   46.00%
Fair Value $ 7,426   $ 7,426   $ 7,234
Change in fair value, gain (loss) $ 240 225 $ 419 124  
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%   36.00%
Fair Value $ 9,063   $ 9,063   $ 8,803
Change in fair value, gain (loss) $ 263 216 $ 541 122  
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%   37.00%
Fair Value $ 12,529   $ 12,529   $ 12,119
Change in fair value, gain (loss) $ 361 284 $ 740 122  
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%   34.00%
Fair Value $ 12,073   $ 12,073   $ 11,679
Change in fair value, gain (loss) $ 348 273 $ 713 118  
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%   43.00%
Fair Value $ 4,446   $ 4,446   $ 4,320
Change in fair value, gain (loss) $ 131 107 $ 266 53  
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%   37.00%
Fair Value $ 10,256   $ 10,256   $ 9,966
Change in fair value, gain (loss) $ 302 245 $ 616 114  
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%   53.00%
Fair Value $ 12,679   $ 12,679   $ 12,337
Change in fair value, gain (loss) $ 374 304 $ 762 135  
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%   44.00%
Fair Value $ 6,546   $ 6,546   $ 6,357
Change in fair value, gain (loss) $ 197 222 $ 400 102  
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%   53.00%
Fair Value $ 7,465   $ 7,465   $ 7,222
Change in fair value, gain (loss) $ 225 296 $ 446 236  
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%   56.00%
Fair Value $ 11,150   $ 11,150   $ 10,222
Change in fair value, gain (loss) $ 896 425 $ 1,215 279  
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%   42.00%
Fair Value $ 14,984   $ 14,984   $ 14,525
Change in fair value, gain (loss) $ 443 0 $ 879 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%   51.00%
Fair Value $ 24,649   $ 24,649   $ 23,936
Change in fair value, gain (loss) $ 758 0 $ 1,504 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%   38.00%
Fair Value $ 7,446   $ 7,446   $ 7,216
Change in fair value, gain (loss) 235 0 470 0  
Investment in unconsolidated entities | Single-Family Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Fair Value 14,951   14,951   $ 76,330
Change in fair value, gain (loss) $ 4,271 1,398 $ 2,171 2,616  
Investment in unconsolidated entities | Single-Family Equity Ownership Interests | Morrocroft Neighborhood Stabilization Fund II, LP          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 11.00%   11.00%   11.00%
Fair Value $ 14,951   $ 14,951   $ 13,040
Investment in unconsolidated entities | Single-Family Equity Ownership Interests | Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I) (1)          
Schedule of Equity Method Investments [Line Items]          
Ownership Interest 0.00%   0.00%   49.00%
Fair Value $ 0   $ 0   $ 63,290
Investment in unconsolidated entities | Preferred Equity Ownership Interests          
Schedule of Equity Method Investments [Line Items]          
Fair Value 204,697   204,697   $ 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   (1,300)   (1,100)  
Change in fair value, gain (loss) 0 (1,310) 0 (1,071)  
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 $ (1,310) $ 0 $ (1,071)