Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2024

Related Party Transactions [Abstract]

Schedule of related party transactions

The Company’s consolidated statements of operations included the following significant related party transactions ($ in thousands):

			Three months ended March 31,
Transaction	Consolidated Statement of Operations location	Counterparty	2024		2023
Management fee (including management termination fee)	Related party expense – management fee	Manager	$	17,459	$	1,828
Income from equity investment	Income/(loss) from investments in affiliates	Manager	$	3,113	$	2
Interest income on securities and beneficial interest and net decrease in the net present value of expected credit losses on beneficial interests	Net interest (loss)/income after the impact of changes in the net present value of expected credit losses	Various non-consolidated joint ventures	$	2,357	$	4,570
Loan servicing fees	Related party expense – loan servicing fees	Servicer	$	1,734	$	1,860
Affiliate loan interest income	Interest income	Servicer	$	253	$	65
Affiliate loan interest income	Interest income	Gaea	$	92	$	—
Income from equity investment	Income/(loss) from investments in affiliates	AS Ajax E LLC	$	10	$	11
Loss from joint venture re-securitization on beneficial interests	Loss on joint venture refinancing on beneficial interests	2019-H	$	—	$	(995)
Loss from equity investment	Income/(loss) from investments in affiliates	Gaea	$	(1)	$	(243)
Loss from equity investment	Income/(loss) from investments in affiliates	Loan pool LLCs	$	(7)	$	(10)
Loss from equity investment	Income/(loss) from investments in affiliates	Servicer	$	(26)	$	(67)

The Company’s consolidated balance sheets included the following significant related party balances ($ in thousands):

Transaction	Consolidated Balance Sheet location	Counterparty	As of March 31, 2024
Investment in beneficial interests	Investments in beneficial interests	Various non-consolidated joint ventures	$	88,577
Affiliate loan receivable and interest	Prepaid expenses and other assets	Servicer	$	12,663
Receivables from Servicer	Receivable from servicer	Servicer	$	4,240
Affiliate loan receivable and interest	Prepaid expenses and other assets	Gaea	$	4,030
Management fee payable	Management fee payable	Manager	$	1,951
Servicing fee payable	Accrued expenses and other liabilities	Servicer	$	87

Transaction	Consolidated Balance Sheet location	Counterparty	As of December 31, 2023
Investment in beneficial interests	Investments in beneficial interests	Various non-consolidated joint ventures	$	104,162
Affiliate loan receivable and interest	Prepaid expenses and other assets	Servicer	$	12,591
Affiliate loan receivable and interest	Prepaid expenses and other assets	Gaea	$	7,545
Receivables from Servicer	Receivable from servicer	Servicer	$	7,307
Management fee payable	Management fee payable	Manager	$	1,998
Servicing fee payable	Accrued expenses and other liabilities	Servicer	$	89