INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)

6 Months Ended

Jun. 30, 2019

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 and advances to unconsolidated joint ventures, which we account for using the equity method, as of June 30, 2019 and December 31, 2018 ($ in thousands):

Entity	June 30, 2019		December 31, 2018
Grace Lake JV, LLC	$	3,282	$	5,316
24 Second Avenue Holdings LLC	54,469		35,038
Investment in unconsolidated joint ventures	$	57,751	$	40,354

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, 2019 and 2018 ($ in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
Entity	2019		2018			2019		2018
Grace Lake JV, LLC	$	618	$	266		$	1,032	$	533
24 Second Avenue Holdings LLC	946		(253		)	1,490		(468		)
Earnings (loss) from investment in unconsolidated joint ventures	$	1,564	$	13		$	2,522	$	65

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, 2019 and December 31, 2018 ($ in thousands):

	June 30, 2019		December 31, 2018
Total assets	$	168,530	$	167,837
Total liabilities	125,209		116,667
Partners’/members’ capital	$	43,321	$	51,170

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 six months ended June 30, 2019 and 2018 ($ in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Total revenues	$	6,330	$	4,972	$	11,030	$	9,321
Total expenses	3,571		2,801		7,434		6,373
Net income (loss)	$	2,759	$	2,171	$	3,596	$	2,948