Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2014

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Schedule III-Real Estate and Accumulated Depreciation

Ladder Capital Corp

December 31, 2014

($ in thousands)

			Initial Cost to Company							Costs Capitalized Subsequent to Acquisition		Gross Amount at which Carried at Close of Period								Accumulated Depreciation and Amortization		Date Acquired	Year Built	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances		Land		Building		Intangibles					Land		Building		Intangibles		Total
Real Estate Under Operating Leases:
Retail Property in Millbrook, AL	$	4,656	$	970	$	5,972	$	—		$	—	$	970	$	5,972	$	—	$	6,942	$	519	03/28/12	2008	32yrs
Retail Property in Greenwood, AR	3,453		1,038		3,415		694			—		1,038		3,415		694		5,147		352		04/12/12	2009	13-43yrs
Retail Property in El Centro, CA	2,988		569		3,133		575			—		569		3,133		575		4,277		49		08/08/14	2014	15-50yrs
Retail Property in Bennett, CO	2,501		470		2,503		549			—		470		2,503		563		3,536		32		10/02/14	2014	14-34yrs
Retail Property in Woodland Park, CO	2,821		668		2,681		620			—		668		2,681		620		3,969		18		11/14/14	2014	15-35yrs
Retail Property in DeLeon Springs, FL	828		239		782		221			—		239		782		221		1,242		118		08/13/12	2011	15-35yrs
Retail Property in Orange City, FL	797		229		853		235			—		229		853		235		1,317		130		05/23/12	2011	15-35yrs
Retail Property in Satsuma, FL	716		79		821		192			—		79		821		192		1,092		129		04/19/12	2011	15-35yrs
Retail Property in Conyers, GA	22,867		876		27,396		4,258			—		876		27,396		4,258		32,530		342		08/28/14	2014	15-45yrs
Retail Property in Douglasville, GA	3,264		1,717		2,705		987			—		1,717		2,705		987		5,409		505		08/12/10	2008	13-48yrs
Retail Property in Lilburn, GA	3,474		1,090		3,673		1,028			—		1,090		3,673		1,028		5,791		640		08/12/10	2007	12-47yrs
Retail Property in Snellville, GA	5,337		1,293		5,724		983			—		1,293		5,724		983		8,000		715		04/04/12	2011	14-34yrs
Retail Property in Ankeny, IA	11,790		3,180		10,513		2,817			—		3,180		10,513		2,843		16,536		75		11/04/14	2013	14-39yrs
Retail Property in Cedar Rapids, IA	7,855		1,569		7,553		1,878			—		1,569		7,553		1,878		11,000		63		11/04/14	2012	10-30yrs
Retail Property in Fairfield, IA	7,641		1,132		7,779		1,784			—		1,132		7,779		1,800		10,711		55		11/04/14	2011	12-37yrs
Retail Property in Muscatine, IA	3,754		1,060		6,636		(546		)	—		1,060		6,636		1,293		8,989		37		11/04/14	2013	10-29yrs
Retail Property in Sheldon, IA	1,720		633		3,053		614			—		633		3,053		707		4,393		22		11/04/14	2011	12-37yrs
Retail Property in O'Fallon, IL	5,694		2,488		5,388		125			—		2,488		5,388		1,036		8,912		174		08/08/14	1984	7-15yrs

		Initial Cost to Company			Costs Capitalized Subsequent to Acquisition	Gross Amount at which Carried at Close of Period				Accumulated Depreciation and Amortization	Date Acquired	Year Built	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances	Land	Building	Intangibles		Land	Building	Intangibles	Total
Retail Property in Evansville, IN	—	1,788	6,348	864	—	1,788	6,348	864	9,000	25	11/26/14	2014	15-35yrs
Retail Property in Wichita, KS	4,842	1,187	4,850	1,163	—	1,187	4,850	1,163	7,200	499	12/14/12	2012	14-34yrs
Retail Property in North Dartsmouth, MA	19,260	7,033	19,745	3,187	—	7,033	19,745	3,187	29,965	2,783	09/21/12	1989	10-20yrs
Retail Property in Pittsfield, MA	11,187	1,801	11,556	1,344	—	1,801	11,556	1,344	14,701	1,256	02/17/12	2011	14-34yrs
Retail Property in Elkton, MD	2,928	963	3,049	860	—	963	3,049	860	4,872	537	07/27/10	2008	14-49yrs
Retail Property in Waldorf, MD	12,209	4,933	11,684	2,186	—	4,933	11,684	2,803	19,420	1,469	09/21/12	1999	10-25yrs
Retail Property in Owatonna, MN	4,133	1,398	7,125	1,446	—	1,398	7,125	1,563	10,086	51	11/04/14	2010	11-36yrs
Retail Property in Worthington, MN	—	1,432	5,510	1,378	—	1,432	5,510	1,431	8,373	7	12/22/14	2010	10-35yrs
Retail Property in Springfield, MO	6,080	3,658	6,296	1,721	—	3,658	6,296	1,868	11,822	48	11/04/14	2011	12-37yrs
Retail Property in Tupelo, MS	3,090	1,120	3,070	939	—	1,120	3,070	939	5,129	554	08/13/10	2007	12-47yrs
Retail Property in Mooresville, NC	10,887	2,615	12,462	2,566	—	2,615	12,462	2,566	17,643	1,637	09/21/12	2000	12-24yrs
Retail Property in Mt. Airy, NC	2,925	729	3,353	411	—	729	3,353	599	4,681	244	12/27/12	2007	9-39yrs
Retail Property in Plattsmouth, NE	—	1,446	5,220	1,313	—	1,446	5,220	1,363	8,029	6	12/22/14	1999	12-37yrs
Retail Property in Vineland, NJ	13,984	1,482	17,742	3,282	—	1,482	17,742	3,282	22,506	1,946	09/21/12	2003	12-30yrs
Retail Property in Bellport, NY	12,925	3,601	12,465	2,034	—	3,601	12,465	2,034	18,100	72	11/13/14	2014	15-35yrs
Retail Property in Saratoga Springs, NY	12,502	748	13,936	5,538	—	748	13,936	5,538	20,222	1,841	09/21/12	1994	15-27yrs
Retail Property in Sennett, NY	4,784	1,147	4,480	1,848	—	1,147	4,480	1,848	7,475	724	09/21/12	1996	10-23yrs
Retail Property in Durant, OK	3,223	594	3,900	498	—	594	3,900	498	4,992	252	01/28/13	2007	10-40yrs
Retail Property in Aiken, SC	3,852	1,588	3,480	858	—	1,588	3,480	858	5,926	285	12/21/12	2008	11-41yrs
Retail Property in Columbia, SC	5,192	2,148	4,629	1,023	—	2,148	4,629	1,023	7,800	603	04/04/12	2001	14-34yrs

				Initial Cost to Company						Costs Capitalized Subsequent to Acquisition		Gross Amount at which Carried at Close of Period									Accumulated Depreciation and Amortization		Date Acquired	Year Built	Life on which Depreciation in Latest Statement of Income is Computed
Description	Encumbrances			Land		Building		Intangibles				Land		Building		Intangibles		Total
Retail Property in Lexington, SC	2,898			1,644		2,219		869		—		1,644		2,219		869		4,732			462		06/28/10	2009	13-48yrs
Retail Property in Spartanburg, SC	2,792			828		2,567		476		—		828		2,567		718		4,113			400		01/14/11	2007	12-42yrs
Retail Property in Gallatin, TN	3,294			1,725		2,616		721		—		1,725		2,616		721		5,062			233		12/28/12	2007	11-40yrs
Retail Property in Johnson City, TN	3,424			917		3,607		739		—		917		3,607		739		5,263			287		12/21/12	2007	11-40yrs
Retail Property in Memphis, TN	3,945			1,986		2,800		524		—		1,986		2,800		799		5,585			49		10/24/14	1962	5-15yrs
Retail Property in Ooltewah, TN	3,869			903		3,957		843		—		903		3,957		843		5,703			309		12/18/12	2008	11-41yrs
Retail Property in Palmview, TX	4,620			938		4,837		1,044		—		938		4,837		1,044		6,819			330		12/19/12	2012	11-44yrs
Retail Property in Abingdon, VA	3,107			682		3,733		273		—		682		3,733		623		5,038			251		12/18/12	2006	11-41yrs
Total Retail	254,108			70,334		287,816		56,962		—		70,334		287,816		61,900		420,050			21,135
Office in Oakland County, MI	12,334			1,147		7,707		9,146		1,218		1,147		9,010		9,556		19,713			5,348		02/01/13	1989	4-35yrs
Office in Minneapolis, MN	40,965			9,447		27,569		14,262		2,446		9,447		30,014		14,516		53,977			3,876		10/09/13	1960	7-30yrs
Office in St. Paul, MN	49,979			9,415		33,682		19,243		375		9,415		34,057		20,519		63,991			1,578		09/22/14	1900	7-19yrs
Office in Henrico, VA	89,895			14,632		87,629		16,145		1,086		14,632		88,745		16,923		120,300			13,354		06/07/13	1984	4-41yrs
Office in Henrico, VA	15,816			4,539		12,633		2,678		59		4,539		12,692		2,704		19,935			564		08/14/14	1986	4-33yrs
Total Office	208,989			39,180		169,220		61,474		5,184		39,180		174,518		64,218		277,916			24,720
Condominium in Miami, FL(1)	5,821			10,487		67,895		1,618		—		8,044		52,081		1,241		61,366			1,714		11/21/13	2010	7-47yrs
Condominium in Las Vegas, NV(1)	—			4,900		114,100		—		—		4,900		55,359		—		60,259			3,036		12/20/12	2006	40yrs
Total Condominium	5,821			15,387		181,995		1,618		—		12,944		107,440		1,241		121,625			4,750
Total Real Estate Under Operating Leases	$	468,918	(2)	$	124,901	$	639,031	$	120,054	$	5,184	$	122,458	$	569,774	$	127,359	$	819,591	(3)	$	50,605

(1) Gross carrying value amounts are charged off as cost of sales upon delivery of condo units.

(2) Includes $21,506,698 of encumbrances from repurchase agreements.

(3) The aggregate cost for Federal income tax purposes is $819,590,851.

Reconciliation of Real Estate:

The following table reconciles real estate from December 31, 2013 to December 31, 2014 ($ in thousands):

	Total Real Estate			Commercial Real Estate			Residential Real Estate
Balance at December 31, 2013	$	649,820		$	474,465		$	175,355
Improvements and additions	267,367			267,367			—
Acquisitions through foreclosures	—			—			—
Dispositions	(97,596		)	(43,867		)	(53,729		)
Impairments	—			—			—
Balance at December 31, 2014	$	819,591		$	697,965		$	121,626

The following table reconciles real estate from December 31, 2012 to December 31, 2013 ($ in thousands):

	Total Real Estate			Commercial Real Estate		Residential Real Estate
Balance at December 31, 2012	$	384,082		$	265,082	$	119,000
Improvements and additions	289,383			209,383		80,000
Acquisitions through foreclosures	—			—		—
Dispositions	(23,645		)	—		(23,645		)
Impairments	—			—		—
Balance at December 31, 2013	$	649,820		$	474,465	$	175,355

Reconciliation of Accumulated Depreciation and Amortization:

The following table reconciles accumulated depreciation and amortization from December 31, 2013 to December 31, 2014 ($ in thousands):

	Total Real Estate			Commercial Real Estate			Residential Real Estate
Balance at December 31, 2013	$	25,601		$	23,061		$	2,540
Additions	28,916			25,212			3,704
Dispositions	(3,912		)	(2,417		)	(1,495		)
Balance at December 31, 2014	$	50,605		$	45,856		$	4,749

The following table reconciles accumulated depreciation and amortization from December 31, 2012 to December 31, 2013 ($ in thousands):

	Total Real Estate			Commercial Real Estate		Residential Real Estate
Balance at December 31, 2012	$	4,061		$	4,061	$	—
Additions	21,821			19,000		2,821
Dispositions	(281		)	—		(281		)
Balance at December 31, 2013	$	25,601		$	23,061	$	2,540