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Equity Investments, at Fair Values (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Investments in Unconsolidated Entities | The following table presents the Company's equity investments as of June 30, 2024 and December 31, 2023, respectively (dollar amounts in thousands):
|  | June 30, 2024 |  | December 31, 2023
Investment Name |  | Ownership Interest |  | Fair Value |  | Ownership Interest |  | Fair Value
Multi-Family Preferred Equity Ownership Interests |  |  |  |  |  |  |  |
EHOF-NYMT Sunset Apartments Preferred, LLC |  | 57% |  | $ | 20,570 |  |  | 57% |  | $ | 19,703 |
Lucie at Tradition Holdings, LLC |  | 70% |  | 20,488 |  |  | 70% |  | 19,442 |
Syracuse Apartments and Townhomes, LLC |  | 58% |  | 22,690 |  |  | 58% |  | 21,642 |
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% |  | 9,822 |  |  | 58% |  | 9,882 |
Tides on 27th Investors, LLC |  | 54% |  | 18,611 |  |  | 54% |  | 17,937 |
Rapid City RMI JV LLC |  | 50% |  | 10,235 |  |  | 50% |  | 9,804 |
Palms at Cape Coral, LLC |  | — |  | — |  |  | 34% |  | 5,832 |
Total - Multi-Family Preferred Equity Ownership Interests |  |  |  | 102,416 |  |  |  |  | 104,242 |
Joint Venture Equity Investments in Multi-Family Properties |  |  |  |  |  |  |  |
GWR Cedars Partners, LLC |  | 70% |  | 268 |  |  | 70% |  | 1,897 |
GWR Gateway Partners, LLC |  | 70% |  | 1,387 |  |  | 70% |  | 3,823 |
Total - Joint Venture Equity Investments in Multi-Family Properties |  |  |  | 1,655 |  |  |  |  | 5,720 |
Single-Family Equity Ownership Interests |  |  |  |  |  |  |  |
Constructive Loans, LLC (1) |  | 50% |  | 38,844 |  |  | 50% |  | 37,154 |
Total - Single-Family Equity Ownership Interests |  |  |  | 38,844 |  |  |  |  | 37,154 |
Total |  |  |  | $ | 142,915 |  |  |  |  | $ | 147,116 |
(1)The Company purchased $66.6 million and $107.4 million of residential loans from this entity during the three and six months ended June 30, 2024, respectively, and $24.0 million and $40.0 million of residential loans from this entity during the three and six months ended June 30, 2023, respectively. The following table presents income from multi-family preferred equity ownership interests for the three and six months ended June 30, 2024 and 2023, 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 six months ended June 30, 2024 includes $0.8 million and $0.7 million of net unrealized losses, respectively. Income from these investments during the three and six months ended June 30, 2023 includes $5.3 thousand and $0.6 million of net unrealized gains, respectively.
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
Investment Name |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
EHOF-NYMT Sunset Apartments Preferred, LLC |  | $ | 694 |  |  | $ | 638 |  |  | $ | 1,373 |  |  | $ | 1,263 |  |
Lucie at Tradition Holdings, LLC |  | 777 |  |  | 701 |  |  | 1,534 |  |  | 1,385 |  |
Syracuse Apartments and Townhomes, LLC |  | 925 |  |  | 666 |  |  | 1,630 |  |  | 1,321 |  |
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) |  | (66) |  |  | 306 |  |  | 255 |  |  | 607 |  |
Tides on 27th Investors, LLC |  | 34 |  |  | 501 |  |  | 675 |  |  | 1,298 |  |
Rapid City RMI JV LLC |  | 380 |  |  | — |  |  | 812 |  |  | — |  |
Palms at Cape Coral, LLC |  | — |  |  | 180 |  |  | 69 |  |  | 357 |  |
FF/RMI 20 Midtown, LLC |  | — |  |  | 935 |  |  | — |  |  | 1,734 |  |
America Walks at Port St. Lucie, LLC |  | — |  |  | 773 |  |  | — |  |  | 1,899 |  |
1122 Chicago DE, LLC |  | — |  |  | 168 |  |  | — |  |  | 419 |  |
Bighaus, LLC |  | — |  |  | 164 |  |  | — |  |  | 701 |  |
Total Income - Multi-Family Preferred Equity Ownership Interests |  | $ | 2,744 |  |  | $ | 5,032 |  |  | $ | 6,348 |  |  | $ | 10,984 |  |
The following table presents income (loss) from these investments for the three and six months ended June 30, 2024 and 2023, respectively (dollar amounts in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Investment Name |  | 2024 |  | 2023 |  | 2024 |  | 2023
Single-Family Equity Ownership Interests |  |  |  |  |  |  |  |
Constructive Loans, LLC (1) |  | $ | 3,379 |  |  | $ | — |  |  | $ | 1,690 |  |  | $ | (2,500) |
Total Income (Loss) - Single-Family Equity Ownership Interests |  | $ | 3,379 |  |  | $ | — |  |  | $ | 1,690 |  |  | $ | (2,500) |
Joint Venture Equity Investments in Multi-Family Properties (2) |  |  |  |  |  |  |  |
GWR Cedars Partners, LLC |  | $ | (9) |  |  | $ | (613) |  |  | $ | (1,629) |  |  | $ | (200) |
GWR Gateway Partners, LLC |  | (6) |  |  | (1,763) |  |  | (2,436) |  |  | (1,116) |
Total Loss - Joint Venture Equity Investments in Multi-Family Properties |  | $ | (15) |  |  | $ | (2,376) |  |  | $ | (4,065) |  |  | $ | (1,316) |
(1)Includes net unrealized gains of $0.4 million and net unrealized losses of $1.8 million for the three and six months ended June 30, 2024, respectively. Includes net unrealized losses of $1.0 million and $4.3 million for the three and six months ended June 30, 2023, respectively. (2)During the year ended December 31, 2023, the Company determined that these joint venture equity investments no longer met the criteria to be classified as held for sale and returned its equity investments in the joint venture entities to equity investments, at fair value (see Note 9). Includes net unrealized losses of $14.6 thousand and $4.1 million for the three and six months ended June 30, 2024, respectively, and net unrealized losses of $2.4 million and $1.3 million for the three and six months ended June 30, 2023, 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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