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Equity Investments, at Fair Values (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Investments in Unconsolidated Entities | The following table presents the Company's equity investments as of September 30, 2023 and December 31, 2022, respectively (dollar amounts in thousands):
|  | September 30, 2023 |  | December 31, 2022
Investment Name |  | Ownership Interest |  | Fair Value |  | Ownership Interest |  | Fair Value
Multi-Family Preferred Equity Ownership Interests |  |  |  |  |  |  |  |
FF/RMI 20 Midtown, LLC |  | 51% |  | $ | 28,711 |  |  | 51% |  | $ | 27,079 |
Palms at Cape Coral, LLC |  | 34% |  | 5,721 |  |  | 34% |  | 5,429 |
EHOF-NYMT Sunset Apartments Preferred, LLC |  | 57% |  | 19,292 |  |  | 57% |  | 18,139 |
Lucie at Tradition Holdings, LLC |  | 70% |  | 18,948 |  |  | 70% |  | 17,576 |
Syracuse Apartments and Townhomes, LLC |  | 58% |  | 21,241 |  |  | 58% |  | 20,115 |
Hudson Bridge Apartments, LLC - Series A, Briar Hill Apartments, LLC, Kings Glen Apartments, LLC, Flagstone Apartments, LLC, Brookfield Apartments II, LLC - Series B, and Silber JBSM Properties, LLC (collectively) |  | 58% |  | 9,724 |  |  | 58% |  | 9,277 |
Tides on 27th Investors, LLC |  | 54% |  | 17,320 |  |  | — |  | — |
Rapid City RMI JV LLC |  | 50% |  | 9,626 |  |  | — |  | — |
America Walks at Port St. Lucie, LLC |  | — |  | — |  |  | 62% |  | 29,873 |
1122 Chicago DE, LLC |  | — |  | — |  |  | 53% |  | 8,276 |
Bighaus, LLC |  | — |  | — |  |  | 42% |  | 16,482 |
Total - Multi-Family Preferred Equity Ownership Interests |  |  |  | 130,583 |  |  |  |  | 152,246 |
Single-Family Equity Ownership Interests |  |  |  |  |  |  |  |
Constructive Loans, LLC (1) |  | 50% |  | 25,000 |  |  | — |  | 27,500 |
Total - Single-Family Equity Ownership Interests |  |  |  | 25,000 |  |  |  |  | 27,500 |
Total |  |  |  | $ | 155,583 |  |  |  |  | $ | 179,746 |
(1)The Company exercised its option to purchase 50% of the issued and outstanding interests of an entity that originates residential loans during the nine months ended September 30, 2023. The Company purchased $15.3 million and $55.2 million of residential loans from the entity during the three and nine months ended September 30, 2023, respectively, and $5.5 million and $257.8 million of residential loans from the entity during the three and nine months ended September 30, 2022, respectively. The following table presents income from multi-family preferred equity ownership interests for the three and nine months ended September 30, 2023 and 2022, respectively (dollar amounts in thousands). Income from these investments is presented in income from equity investments in the Company's accompanying condensed consolidated statements of operations. Income from these investments during the three and nine months ended September 30, 2023 includes $0.2 million and $0.8 million of net unrealized gains, respectively. Income from these investments during the three and nine months ended September 30, 2022 includes $4.2 million and $3.8 million of net unrealized losses, respectively.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
Investment Name |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
FF/RMI 20 Midtown, LLC |  | $ | 955 |  |  | $ | 287 |  |  | $ | 2,690 |  |  | $ | 1,897 |  |
Palms at Cape Coral, LLC |  | 183 |  |  | 68 |  |  | 540 |  |  | 381 |  |
America Walks at Port St. Lucie, LLC |  | 345 |  |  | 376 |  |  | 2,243 |  |  | 2,180 |  |
EHOF-NYMT Sunset Apartments Preferred, LLC |  | 651 |  |  | 219 |  |  | 1,914 |  |  | 1,327 |  |
Lucie at Tradition Holdings, LLC |  | 719 |  |  | 126 |  |  | 2,103 |  |  | 1,342 |  |
Syracuse Apartments and Townhomes, LLC |  | 679 |  |  | 67 |  |  | 2,000 |  |  | 1,174 |  |
Hudson Bridge Apartments, LLC - Series A, Briar Hill Apartments, LLC, Kings Glen Apartments, LLC, Flagstone Apartments, LLC, Brookfield Apartments II, LLC - Series B, and Silber JBSM Properties, LLC (collectively) |  | 311 |  |  | 243 |  |  | 918 |  |  | 243 |  |
Tides on 27th Investors, LLC |  | 599 |  |  | — |  |  | 1,896 |  |  | — |  |
Rapid City RMI JV LLC |  | 236 |  |  | — |  |  | 236 |  |  | — |  |
1122 Chicago DE, LLC |  | — |  |  | 212 |  |  | 419 |  |  | 690 |  |
Bighaus, LLC |  | — |  |  | 388 |  |  | 701 |  |  | 1,325 |  |
Lurin-RMI, LLC |  | — |  |  | (1,242) |  |  | — |  |  | 558 |  |
Somerset Deerfield Investor, LLC |  | — |  |  | 548 |  |  | — |  |  | 1,731 |  |
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) |  | — |  |  | 163 |  |  | — |  |  | 485 |  |
DCP Gold Creek, LLC |  | — |  |  | — |  |  | — |  |  | 254 |  |
Rigsbee Ave Holdings, LLC |  | — |  |  | — |  |  | — |  |  | (174) |  |
Walnut Creek Properties Holdings, L.L.C. |  | — |  |  | — |  |  | — |  |  | (153) |  |
Total Income - Multi-Family Preferred Equity Ownership Interests |  | $ | 4,678 |  |  | $ | 1,455 |  |  | $ | 15,660 |  |  | $ | 13,260 |  |
The following table presents income (loss) from these investments for the three and nine months ended September 30, 2023 and 2022, respectively (dollar amounts in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Investment Name |  | 2023 |  | 2022 |  | 2023 |  | 2022
Single-Family Equity Ownership Interests |  |  |  |  |  |  |  |
Constructive Loans, LLC (1) |  | $ | — |  |  | $ | (3,500) |  |  | $ | (2,500) |  |  | $ | (1,750) |
Morrocroft Neighborhood Stabilization Fund II, LP (2) |  | — |  |  | — |  |  | — |  |  | 50 |
Total Loss - Single-Family Equity Ownership Interests |  | $ | — |  |  | $ | (3,500) |  |  | $ | (2,500) |  |  | $ | (1,700) |
Joint Venture Equity Investments in Multi-Family Properties (3) |  |  |  |  |  |  |  |
GWR Cedars Partners, LLC |  | $ | (1,020) |  |  | $ | (1,141) |  |  | $ | (1,220) |  |  | $ | (930) |
GWR Gateway Partners, LLC |  | (1,602) |  |  | 88 |  |  | (2,717) |  |  | 426 |
Total Loss - Joint Venture Equity Investments in Multi-Family Properties |  | $ | (2,622) |  |  | $ | (1,053) |  |  | $ | (3,937) |  |  | $ | (504) |
(1)Includes net unrealized losses of $1.3 million and $5.6 million for the three and nine months ended September 30, 2023, respectively. Includes net unrealized losses of $3.5 million and $1.8 million for the three and nine months ended September 30, 2022, respectively. (2)The Company's equity investment was redeemed during the year ended December 31, 2022. (3)The Company's joint venture equity investments in multi-family properties were transferred to assets of disposal group held for sale during the year ended December 31, 2022 (see Note 9). Includes net unrealized losses of $2.6 million and $3.9 million for the three and nine months ended September 30, 2023, respectively, and net unrealized losses of $1.1 million and $0.5 million for the three and nine months ended September 30, 2022, respectively.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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