0000000000-21-012251.txt : 20211109 0000000000-21-012251.hdr.sgml : 20211109 20211008083003 ACCESSION NUMBER: 0000000000-21-012251 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20211008 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Ladder Capital Corp CENTRAL INDEX KEY: 0001577670 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 800925494 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154 BUSINESS PHONE: 212-715-3170 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]#;VQO7!E+UA/8FIE8W0O5VED=&@@,30R."],96YG=&@@,S8U+T)I='-097)# M;VUP;VYE;G0@.#X^7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to the comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to the comment, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our September 21, 2021 letter. Form 10-K for the Fiscal Year Ended December 31, 2020 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations Reconciliation of Non-GAAP Financial Measures Distributable Earnings, page 83 1. We have considered your response to comment 1. Given the nature of your normal operations compared to the nature of the gains/losses and prepayment penalties resulting from your COVID Actions, we believe it is more appropriate to describe the impact of your COVID Actions on distributable earnings through the proposed updates as outlined within your response instead of making adjustments for the COVID Actions to arrive at distributable earnings. Please revise future filings accordingly. Paul Miceli Ladder Capital Corp October 8, 2021 Page 2 You may contact Babette Cooper, Staff Accountant at 202-551-3396 or Wilson Lee, Staff Accountant at 202-551-3468 if you have questions regarding comments on the financial statements and related matters. FirstName LastNamePaul Miceli Sincerely, Comapany NameLadder Capital Corp Division of Corporation Finance October 8, 2021 Page 2 Office of Real Estate & Construction FirstName LastName