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Investment in Unconsolidated Joint Ventures
 9 Months Ended
Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
The following information summarizes financial data and principal activities of the Company's unconsolidated joint ventures. The information included in the following table entitled summary of financial position is as of September 30, 2021 and December 31, 2020 (in thousands). The information included in the summary of operations table is for the nine months ended September 30, 2021 and 2020 (in thousands):
 Total AssetsTotal DebtTotal Equity (Deficit)Company’s Investment
SUMMARY OF FINANCIAL POSITION:20212020202120202021202020212020
Neuhoff Holdings LLC111,250 — 26,932 — 84,318 — 42,159 — 
Austin 300 Colorado Project, LP173,515 165,586 92,252 86,848 70,167 68,567 38,919 38,488 
AMCO 120 WT Holdings, LLC84,640 85,449 — — 83,406 84,311 15,450 15,735 
HICO Victory Center LP16,230 16,544 — — 15,929 15,709 10,709 10,595 
715 Ponce Holdings LLC8,051 — — — 8,016 — 4,028 — 
DC Charlotte Plaza LLLP— 173,704 — — — 90,648 6 47,941 
Carolina Square Holdings LP113,129 118,616 133,264 77,034 (33,999)21,888 (15,671)(1)12,430 
Crawford Long - CPI, LLC 26,450 29,641 64,996 66,423 (40,203)(38,253)(19,326)(1)(18,289)(1)
Other 112 1,313 — — 118 1,316 80 292 
$533,377 $590,853 $317,444 $230,305 $187,752 $244,186 $76,354 $107,192 
 Total RevenuesNet Income (Loss)Company's Share of Income (Loss)
SUMMARY OF OPERATIONS:202120202021202020212020
DC Charlotte Plaza LLLP15,209 15,476 5,494 5,597 2,549 2,583 
Crawford Long - CPI, LLC 9,743 9,784 3,049 2,767 1,412 1,329 
Carolina Square Holdings LP12,478 10,792 1,713 1,936 776 950 
Austin 300 Colorado Project, LP6,388 264 1,600 90 773 45 
HICO Victory Center LP199 241 199 241 111 121 
AMCO 120 WT Holdings, LLC6,385 1,564 234 (2,106)38 (383)
715 Ponce Holdings LLC25 — 11 — 7 — 
Other 378 6,920 271 3,477 160 2,106 
$50,805 $45,041 $12,571 $12,002 $5,826 $6,751 
(1) Negative bases are included in deferred income on the consolidated balance sheets.

On September 30, 2021, the Company sold its 50% owned joint venture interest in DC Charlotte Plaza, LLLP ("DCCP"), which owned a 281,000 square foot office building in Charlotte, to its partner for a gross sales price of $60.8 million. The sale was triggered by the exercise of the partner's purchase option as stipulated in the partnership agreement. The Company recognized a gain of $13.1 million on the sale of its interest in DCCP.
On July 28, 2021, Neuhoff Holdings LLC ("Neuhoff"), a 50-50 joint venture, was formed for the purpose of developing a mixed-use property in Nashville. The Company made an initial contribution of $35.1 million for its interest in the land and development costs incurred to date. In addition to the existing assets of the joint venture, Neuhoff also has rights to adjacent parcels for future development. On September 30, 2021, the joint venture closed on a construction loan with a borrowing capacity up to $312.7 million. The mortgage loan bears interest at the London Interbank Offering Rate ("LIBOR") plus 3.45% and matures on September 30, 2025.
On July 28, 2021, 715 Ponce Holdings LLC ("715 Ponce"), a 50-50 joint venture, was formed for the purpose of developing a property in Midtown Atlanta in the future. The Company made an initial contribution of $4.0 million for its interest in the land held by the joint venture.
In March 2021, Carolina Square Holdings LP ("Carolina Square"), a 50% owned joint venture with NR 123 Franklin LLC ("Northwood Ravin"), issued a non-recourse mortgage note with a principal balance of $135.7 million. Proceeds from the issuance of this mortgage note were used to repay in full its $77.5 million construction loan that was set to mature May 1, 2021 and to make a pro-rata distribution of $26.0 million to each partner. The mortgage loan bears interest at LIBOR plus 1.80% and matures on March 18, 2026.
In March 2020, the Company sold its 50% owned joint venture interest in Charlotte Gateway Village, LLC ("Gateway"), which owned a 1.1 million square foot office building in Charlotte, to its partner for a gross sales price of $52.2 million. The sale was triggered by the exercise of the partner's purchase option, and the proceeds from this sale represent a 17% internal rate of return for the Company on its invested capital, as stipulated in the partnership agreement. The Company recognized a gain of $44.7 million on the sale of its interest in Gateway, net of $188,000 of estimated state income tax.
In February 2020, the Company sold its remaining interest in the Wildwood Associates joint venture, which owned a 6.3 acre parcel of land in Atlanta, to its venture partner for a gross sales price of $900,000. The Company recognized a gain of $1.3 million on the sale of its interest in Wildwood Associates, which included elimination of the remaining negative basis in the joint venture of $520,000.