Investment in Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2017

Investment in Unconsolidated Entities

Summary of investments in unconsolidated entities

The table below summarizes our investments in unconsolidated entities as of September 30, 2017 and December 31, 2016 (dollars in thousands):

	Participation /	Carrying value as of
	Ownership % (1)	September 30, 2017			December 31, 2016
Equity method:
Retail Fund (see Note 15)	33%	$	109,607	(2)	$	124,977
Investor entity which owns equity in an online real estate company	50%		75,249			21,677
Equity interests in commercial real estate	16% - 50%		23,310			23,297
Various	25% - 50%		7,015			6,640
			215,181			176,591
Cost method:
Equity interest in a servicing and advisory business	6%		12,234			12,234
Investment funds which own equity in a loan servicer and other real estate assets	4% - 6%		9,225			9,225
Various	0% - 3%		6,810			6,555
			28,269			28,014
		$	243,450		$	204,605

(1) None of these investments are publicly traded and therefore quoted market prices are not available.

(2) During the nine months ended September 30, 2017, we funded $15.5 million in capital commitments.