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Investments in Equity Affiliates (Tables)
 9 Months Ended
Sep. 30, 2017
Investments in Equity Affiliates  
Summary of the company's investments in equity affiliates

 

 

Investments in Equity Affiliates at

 

UPB of Loans to 
Equity Affiliates at

 

Equity Affiliates

 

September 30, 2017

 

December 31, 2016

 

September 30, 2017

 

 

 

 

 

 

 

 

 

Arbor Residential Investor LLC

 

$
26,821,643

 

$
28,917,457

 

$

—

 

West Shore Café

 
2,120,347

 
2,050,347

 
1,687,500

 

Lightstone Value Plus REIT L.P.

 
1,894,727

 
1,894,727

 

—

 

JT Prime

 
425,000

 
425,000

 

—

 

East River Portfolio

 
68,923

 
83,222

 
1,705,938

 

Lexford Portfolio

 
100

 
100

 

—

 

Issuers of Junior Subordinated Notes

 

—

 
578,000

 

—

 

 

 

 

 

 

 

 

 

Total

 

$
31,330,740

 

$
33,948,853

 

$
3,393,438

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of statements of operations for the Company's investments in ARI

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

 

 

 

 

 

 

 

 

 

 

Statements of Operations:

 

 

 

 

 

 

 

 

 

Total revenues

 

$
32,429,382

 

$
71,040,665

 

$
108,195,846

 

$
172,929,878

 

Total expenses

 
40,214,486

 
47,256,537

 
120,232,132

 
128,120,821

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$
(7,785,104

)

$
23,784,128

 

$
(12,036,286

)

$
44,809,057

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Arbor’s share of (loss) income

 

$
(1,230,905

)

$
4,167,233

 

$
(1,844,144

)

$
8,885,528