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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 68,359 $ 30,795
Cash held in trust 382 39
Mortgage loans [1] 630,534 554,877
Property held-for-sale 16,551 10,333
Rental property 760 58
Receivable from servicer 6,949 5,444
Investment in affiliates 3,900 2,625
Prepaid expenses and other assets 2,320 5,634
Total Assets 729,755 609,805
Liabilities:    
Secured borrowings, net [1] 346,070 265,006
Borrowings under repurchase agreement 102,240 104,533
Management fee payable 703 667
Accrued expenses and other liabilities 3,443 1,786
Total liabilities 452,456 371,992
Commitments and contingencies- see Note 7
Equity:    
Preferred stock $.01 par value; 25,000,000 shares authorized, none issued or outstanding
Common stock $.01 par value; 125,000,000 shares authorized, 17,924,523 shares at June 30, 2016 and 15,301,946 shares at December 31, 2015 issued and outstanding 179 152
Additional paid-in capital 244,180 211,729
Retained earnings 22,666 15,921
Equity attributable to common stockholders 267,025 227,802
Non-controlling interests 10,274 10,011
Total equity 277,299 237,813
Total Liabilities and Equity $ 729,755 $ 609,805
[1] Mortgage loans include $504,885 and $398,696 of loans at June 30, 2016 and December 31, 2015, respectively, transferred to securitization trusts that are variable interest entities ("VIEs"); these loans can only be used to settle obligations of the VIEs. Secured borrowings consist of notes issued by VIEs that can only be settled with the assets and cash flows of the VIEs. The creditors do not have recourse to the primary beneficiary (Great Ajax Corp.). See Note 8-Debt. Secured borrowings are presented net of deferred issuance costs.