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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2015 and 2014 ($ in thousands):
 
Entity
 
December 31, 2015
 
December 31, 2014
 
 
 
 
 
Ladder Capital Realty Income Partnership I LP
 
$
49

 
$
3,898

Grace Lake JV, LLC
 
2,891

 
2,143

24 Second Avenue Holdings LLC
 
30,857

 
—

Company’s investment in unconsolidated joint ventures
 
$
33,797

 
$
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 years ended December 31, 2015, 2014 and 2013 ($ in thousands):
 
 
 
Year Ended December 31,
Entity
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
Ladder Capital Realty Income Partnership I LP
 
$
116

 
$
1,090

 
$
2,568

Grace Lake JV, LLC
 
823

 
900

 
635

24 Second Avenue Holdings LLC
 
(568
)
 
—

 
—

Earnings (loss) from investment in unconsolidated joint ventures
 
$
371

 
$
1,990

 
$
3,203
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 December 31, 2015 and 2014 ($ in thousands):
 
 
 
December 31, 2015
 
December 31, 2014
 
 
 
 
 
Total assets
 
$
131,214

 
$
118,762

Total liabilities
 
88,973

 
81,073

Partners’/members’ capital
 
$
42,241

 
$
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 years ended December 31, 2015, 2014 and 2013 ($ in thousands):
 
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
Total revenues
 
$
18,886

 
$
26,059

 
$
36,135

Total expenses
 
15,849

 
16,864

 
10,554

Net income (loss)
 
$
3,037

 
$
9,195

 
$
25,581