Investment in Unconsolidated Ventures (Tables)

3 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The table below provides information regarding these joint ventures at December 31, 2018 (dollars in thousands):

Location	Number of Units	Carrying Value of Investment		Mortgage Balance		Percent Ownership
Columbia, SC	374	$	4,619	$	40,219	32	%
Columbia, SC (a)	339	8,425		37,463		46	%
Forney, TX (b)	313	6,591		25,350		50	%
Other investments	N/A	123		N/A		N/A
	1,026	$	19,758	$	103,032

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(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 has been secured. Such financing bears interest at 4.95% and matures in June 2020.

(b) This interest is held through a tenancy-in-common.