INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)

9 Months Ended

Sep. 30, 2015

Equity Method Investments and Joint Ventures [Abstract]

Summary of the Company's investments in unconsolidated joint ventures, which the entity accounts for using the equity method

The following is a summary of the Company’s investments in unconsolidated joint ventures, which we account for using the equity method, as of September 30, 2015 and December 31, 2014 ($ in thousands):

Entity	September 30, 2015		December 31, 2014
Ladder Capital Realty Income Partnership I LP	$	49	$	3,898
Grace Lake JV, LLC	2,753		2,143
24 Second Avenue Holdings LLC	30,991		—
Company’s investment in unconsolidated joint ventures	$	33,793	$	6,041

Summary of the Company's allocated earnings based on its ownership interests from investment in unconsolidated joint ventures

The following is a summary of the Company’s allocated earnings (losses) based on its ownership interests from investment in unconsolidated joint ventures for the three and nine months ended September 30, 2015 and 2014 ($ in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
Entity	2015			2014		2015			2014
Ladder Capital Realty Income Partnership I LP	$	—		$	101	$	116		$	987
Grace Lake JV, LLC	196			225		685			675
24 Second Avenue Holdings LLC	(221		)	—		(221		)	—
Earnings (loss) from investment in unconsolidated joint ventures	$	(25	)	$	326	$	580		$	1,662

Summary of the combined results from operations of the unconsolidated joint ventures for the period in which the Company had investment interests

The following is a summary of the combined financial position of the unconsolidated joint ventures in which the Company had investment interests as of September 30, 2015 and December 31, 2014 ($ in thousands):

	September 30, 2015		December 31, 2014
Total assets	$	130,433	$	118,762
Total liabilities	88,405		81,073
Partners’/members’ capital	$	42,028	$	37,689

The following is a summary of the combined results from operations of the unconsolidated joint ventures for the period in which the Company had investment interests during the three and nine months ended September 30, 2015 and 2014 ($ in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015			2014		2015		2014
Total revenues	$	4,203		$	5,700	$	14,666	$	19,661
Total expenses	4,626			3,727		11,987		12,571
Net income (loss)	$	(423	)	$	1,973	$	2,679	$	7,090