Investment in 111 West 57th Partners LLC (Tables)

12 Months Ended

Dec. 31, 2015

Investment in 111 West 57th Partners LLC [Abstract]

Initial investment and other information relating to the 111 West 57th Property

Amounts relating to the Company's initial investment and other information relating to the 111 West 57^th Property is as follows:

($ in thousands)
Company's aggregate initial investment	$	57,250
Company's aggregate initial membership interest %		60.3	%
Other members and Sponsor initial investment	$	37,750
Approximate gross square feet of project		346,000

Information relating to financing for 111 West 57th Partners

Information relating to the June 30, 2015 financing for 111 West 57^th Partners is as follows:


(in thousands)
Financing obtained by 111 West 57^th Partners	$	725,000
Annaly CRE LLC initial mortgage and acquisition loan repaid	$	230,000

Information relating to the July 2015 Distribution

Information relating to the July 2015 Distribution is as follows:


(in thousands)
Distribution attributable to Company's investment	$	11,699
Distribution retained by the Company, net of amounts repaid to Capital LLC	$	1,831

Capital contributed by Capital LLC and fully repaid

Capital contributed by Capital LLC in December 2014 and April 2015, which was fully repaid as part of the July 2015 Distribution, was as follows:

(in thousands)
Capital contributed by Capital LLC		$	9,868

Capital contributions to the Joint Venture

The Company made additional capital contributions to the Joint Venture as indicated below:

(in thousands)		Year Ended December 31, 2015
Capital contributions		$	6,911

Equity Method Investments

The following tables present summarized financial information for the Company's equity method investment in 111 West 57^th Partners. The amounts shown represent 100% of the financial position and results of operations of 111 West 57^thPartners for the dates indicated below.

(in thousands)

Assets:	December 31, 2015		December 31, 2014
Real estate held for development, net	$	440,370	$	326,387
Escrow deposits		9,400		26,011
Other assets		26,827		16,370
Total assets	$	476,597	$	368,768
Liabilities:
Loans payable	$	340,693	$	230,000
Other liabilities		14,447		8,319
Total liabilities		355,140		238,319
Equity:
Total members' equity		121,457		130,449
Total liabilities and members' equity	$	476,597	$	368,768

(in thousands)	Year Ended December 31, 2015			Year Ended December 31, 2014
Rental income	$	-		$	1,039
Expenses		3,158			4,526
Net income (loss)	$	(3,158	)	$	(3,487	)