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Investments in Unconsolidated Ventures
 3 Months Ended
Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Ventures
Investment in Unconsolidated Ventures

The Company has interests in unconsolidated joint ventures that own multi-family properties. The table below provides information regarding these joint ventures at December 31, 2017 (dollars in thousands):    
Location
 
Number of Units
 
Carrying Value
 
Mortgage Debt
 
Percent Ownership
Columbia, SC
 
374

 
$
4,901

 
$
41,000

 
32
%
Columbia, SC (a)
 
339

 
8,665

 
—

 
46
%
Forney, TX (b)
 
313

 
7,440

 
25,350

 
50
%
Other investments
 
N/A

 
109

 
N/A

 
N/A

 
 
1,026

 
$
21,115

 
$
66,350

 
 
__________________________
(a)
Reflects land purchased for a development project at which construction of 339 units is planned. Construction financing for this project of up to $47,426,000 has been secured. Such financing bears interest at 4.08% and matures in June 2020. At December 31, 2017, no amounts have been drawn on this financing.
(b)
This interest is held through a tenancy-in-common.

The net loss from these ventures was $25,000 and $0 in the three months ended December 31, 2017 and 2016, respectively.