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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)
 6 Months Ended
Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 ($ in thousands):
 
Entity
 
June 30, 2018
 
December 31, 2017
 
 
 
 
 
Grace Lake JV, LLC
 
$
4,192

 
$
4,908

24 Second Avenue Holdings LLC
 
31,110

 
30,533

Investment in unconsolidated joint ventures
 
$
35,302

 
$
35,441
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 six months ended June 30, 2018 and 2017 ($ in thousands):
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Entity
 
2018
 
2017
 
2018
 
2017
 
 
 
 
 
 
 
 
 
Grace Lake JV, LLC
 
266

 
269

 
$
533

 
$
508

24 Second Avenue Holdings LLC
 
(253
)
 
(259
)
 
(468
)
 
(571
)
Earnings (loss) from investment in unconsolidated joint ventures
 
$
13

 
$
10

 
$
65

 
$
(63
)
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 June 30, 2018 and December 31, 2017 ($ in thousands):
 
 
 
June 30, 2018
 
December 31, 2017
 
 
 
 
 
Total assets
 
$
158,017

 
$
154,979

Total liabilities
 
114,103

 
108,119

Partners’/members’ capital
 
$
43,914

 
$
46,860


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 six months ended June 30, 2018 and 2017 ($ in thousands):
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2018
 
2017
 
2018
 
2017
 
 
 
 
 
 
 
 
 
Total revenues
 
$
4,972

 
$
4,953

 
$
9,321

 
$
8,743

Total expenses
 
2,801

 
1,686

 
6,373

 
7,484

Net income (loss)
 
$
2,171

 
$
3,267

 
$
2,948

 
$
1,259