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Investments in Unconsolidated Entities (Tables)
 9 Months Ended
Sep. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in Unconsolidated Entities

The Company's investments in unconsolidated entities accounted for under the equity method are comprised of preferred equity ownership interests in entities that invest in multi-family properties where the risks and payment characteristics are equivalent to an equity investment and consist of the following as of September 30, 2019 and December 31, 2018 (dollar amounts in thousands):

 
 
September 30, 2019

December 31, 2018
Investment Name
 
Ownership Interest
 
Carrying Amount
 
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%
 
$
9,802

 
45%
 
$
8,948

Somerset Deerfield Investor, LLC
 
45%
 
17,102

 
45%
 
16,266

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%
 
4,834

 
43%
 
4,714

Audubon Mezzanine Holdings, L.L.C. (Series A)
 
57%
 
10,895

 
57%
 
10,544

EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively)
 
46%
 
6,765

 
—
 
—

Walnut Creek Properties Holdings, L.L.C.
 
36%
 
8,189

 
—
 
—

Towers Property Holdings, LLC
 
37%
 
11,099

 
—
 
—

Mansions Property Holdings, LLC
 
34%
 
10,695

 
—
 
—

Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively)
 
43%
 
4,015

 
—
 
—

Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively)
 
37%
 
9,288

 
—
 
—

Total - Equity Method
 
 
 
$
92,684

 
 
 
$
40,472


    
The Company's investments in unconsolidated entities accounted for under the equity method using the fair value option consist of the following as of September 30, 2019 and December 31, 2018 (dollar amounts in thousands):
 
 
September 30, 2019
 
December 31, 2018
Investment Name
 
Ownership Interest
 
Carrying Amount
 
Ownership Interest
 
Carrying Amount
Joint venture equity investments in multi-family properties
 
 
 
 
 
 
 
 
Evergreens JV Holdings, LLC (1)
 
—
 
$
—

 
85%
 
$
8,200

The Preserve at Port Royal Venture, LLC
 
77%
 
14,470

 
77%
 
13,840

Equity investments in entities that invest in residential properties and loans
 
 
 
 
 
 
 
 
Morrocroft Neighborhood Stabilization Fund II, LP
 
11%
 
11,564

 
11%
 
10,954

Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I)
 
49%
 
50,215

 
—
 
—

Total - Fair Value Option
 
 
 
$
76,249

 
 
 
$
32,994


(1)
The Company's equity investment was redeemed during the three months ended September 30, 2019.

The following table presents income from investments in unconsolidated entities accounted for under the equity method for the three and nine months ended September 30, 2019 and 2018, respectively (dollar amounts in thousands):
        
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Investment Name
 
2019
 
2018
 
2019
 
2018
BBA-EP320 II, L.L.C., BBA-Ten10 II, L.L.C., and Lexington on the Green Apartments, L.L.C. (collectively)
 
$
299

 
$
265

 
$
860

 
$
777

Somerset Deerfield Investor, LLC
 
506

 
—

 
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)
 
136

 
—

 
401

 
—

Audubon Mezzanine Holdings, L.L.C. (Series A)
 
310

 
—

 
911

 
—

EP 320 Growth Fund, L.L.C. (Series A) and Turnbury Park Apartments - BC, L.L.C. (Series A) (collectively)
 
192

 
—

 
546

 
—

Walnut Creek Properties Holdings, L.L.C.
 
236

 
—

 
564

 
—

Towers Property Holdings, LLC
 
311

 
—

 
322

 
—

Mansions Property Holdings, LLC
 
300

 
—

 
310

 
—

Sabina Montgomery Holdings, LLC - Series B and Oakley Shoals Apartments, LLC - Series A (collectively)
 
70

 
—

 
70

 
—

Gen1814, LLC - Series A, Highlands - Mtg. Holdings, LLC - Series A, and Polos at Hudson Investments, LLC - Series A (collectively)
 
96

 
—

 
96

 
—



The following table presents income from investments in unconsolidated entities accounted for under the equity method using the fair value option for the three and nine months ended September 30, 2019 and 2018, respectively (dollar amounts in thousands):

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Investment Name
 
2019
 
2018
 
2019
 
2018
Joint venture equity investments in multi-family properties
 
 
 
 
 
 
 
 
Evergreens JV Holdings, LLC (1)
 
$
536

 
$
3,643

 
$
5,049

 
$
4,008

The Preserve at Port Royal Venture, LLC
 
449

 
449

 
1,295

 
1,351

WR Savannah Holdings, LLC (2)
 
—

 
113

 
—

 
1,743

Equity investments in entities that invest in residential properties and loans
 
 
 
 
 
 
 
 
Morrocroft Neighborhood Stabilization Fund II, LP
 
215

 
149

 
610

 
829

Headlands Asset Management Fund III (Cayman), LP (Headlands Flagship Opportunity Fund Series I)
 
215

 
—

 
215

 
—


(1)
Includes income recognized from redemption of the Company's investment during the three and nine months ended September 30, 2019.
(2) 
Includes income recognized from redemption of the Company's investment during the three and nine months ended September 30, 2018.