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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)

3 Months Ended

Mar. 31, 2014

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

Summary of the combined financial position of the unconsolidated joint ventures in which the Company had investment interests

		March 31, 2014			December 31, 2013

Total assets		$	154,533,364		$	190,415,719
Total liabilities		102,380,310			112,808,701
Partners’/members’ capital		$	52,153,054		$	77,607,018

Summary of the Company's investments in unconsolidated joint ventures, which the entity accounts for using the equity method

Entity		March 31, 2014			December 31, 2013

Ladder Capital Realty Income Partnership I LP		$	5,168,349		$	7,119,864
Grace Lake JV, LLC		2,142,898			2,142,898
Company’s investment in unconsolidated joint ventures		$	7,311,247		$	9,262,762

Summary of the combined results from operations of the unconsolidated joint ventures for the period in which the Company had investment interests

		Three Months Ended March 31,
		2014			2013

Total revenues		$	7,112,612		$	9,894,877
Total expenses		$	2,591,047		3,078,030
Net income		$	4,521,565		$	6,816,847

Summary of the Company's allocated earnings based on its ownership interests from investment in unconsolidated joint ventures

		Three Months Ended March 31,
Entity		2014			2013

Ladder Capital Realty Income Partnership I LP		$	123,175		$	393,980
Grace Lake JV, LLC		225,000			—
Earnings from investment in unconsolidated joint ventures		$	348,175		$	393,980