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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)
 9 Months Ended
Sep. 30, 2017
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, 2017 and December 31, 2016 ($ in thousands):
 
Entity
 
September 30, 2017
 
December 31, 2016
 
 
 
 
 
Grace Lake JV, LLC
 
$
4,614

 
$
3,719

24 Second Avenue Holdings LLC
 
30,393

 
30,306

Investment in unconsolidated joint ventures
 
$
35,007

 
$
34,025
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, 2017 and 2016 ($ in thousands):
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Entity
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Ladder Capital Realty Income Partnership I LP
 
$
—

 
$
—

 
$
—

 
$
892

Grace Lake JV, LLC
 
387

 
230

 
895

 
690

24 Second Avenue Holdings LLC
 
(260
)
 
(371
)
 
(831
)
 
(1,097
)
Earnings (loss) from investment in unconsolidated joint ventures
 
$
127

 
$
(141
)
 
$
64

 
$
485
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, 2017 and December 31, 2016 ($ in thousands):
 
 
 
September 30, 2017
 
December 31, 2016
 
 
 
 
 
Total assets
 
$
149,793

 
$
138,298

Total liabilities
 
103,716

 
94,964

Partners’/members’ capital
 
$
46,077

 
$
43,334


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, 2017 and 2016 ($ in thousands):
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Total revenues
 
$
5,199

 
$
4,463

 
$
13,942

 
$
12,678

Total expenses
 
3,709

 
4,030

 
11,193

 
11,943

Net income (loss)
 
$
1,490

 
$
433

 
$
2,749

 
$
735