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Affiliates | 9 Months Ended
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Sep. 30, 2024
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] |
Affiliates | Note 7 — Affiliates Unconsolidated Affiliates During the three months ended September 30, 2024 and December 31, 2023, the Company had ownership in one and five affiliated entities, respectively, accounted for under the equity method of accounting. During the nine months ended September 30, 2024 and 2023, the Company had ownership interests in five affiliated entities accounted for under the equity method of accounting, respectively. As of September 30, 2024, the Company only has ownership in one entity accounted for under the equity method of accounting. At both September 30, 2024 and December 31, 2023, the Company’s ownership interest in the Former Manager was approximately 19.8%. The Company accounts for its ownership interest in the Former Manager using the equity method. At September 30, 2024 the Company's ownership of GAFS was zero. At December 31, 2023, the Company’s ownership interest was approximately 9.72% in GAFS. The Company accounted for its investment in GAFS using the equity method. At both September 30, 2024 and December 31, 2023, the Company owned approximately 22.2% of Gaea. Effective September 30, 2024, the Company accounts for its ownership interest in Gaea at fair value. During the quarter ended September 30, 2024, Gaea ceased being an affiliate of the Company as a result of the Strategic Transaction and the Company no longer has significant influence over Gaea. At September 30, 2024 and December 31, 2023, the Company’s ownership interest in AS Ajax E LLC was zero and 16.5%, respectively. The Company accounted for its ownership interest using the equity method. The Company received a liquidating distribution in AS Ajax E LLC in the second quarter of 2024 that reduced its investment to zero. At both September 30, 2024 and December 31, 2023, the Company’s ownership in the Loan pool LLCs was zero and 40.0%, respectively. The Company accounted for its ownership interest using the equity method. The table below shows the net income/(loss), assets and liabilities for the Company’s unconsolidated affiliates at 100%, and at the Company’s share ($ in thousands): Net income/(loss), assets and liabilities of unconsolidated affiliates at 100%
|  | Three months ended September 30, |  | Nine months ended September 30,
Net income/(loss) at 100% |  | 2024 |  | 2023 |  | 2024 |  | 2023
AS Ajax E LLC |  | $ | — |  |  | $ | 52 |  |  | $ | 81 |  |  | $ | 174 |
Great Ajax FS LLC |  | — |  |  | (92) |  |  | (269) |  |  | (1,066) |
Loan pool LLCs |  | — |  |  | (16) |  |  | (34) |  |  | (56) |
Gaea Real Estate Corp. |  | — |  |  | (4,584) |  |  | (594) |  |  | (6,916) |
Thetis Asset Management LLC |  | (950) |  |  | 1,713 |  |  | 10,906 |  |  | 1,577 |
|  | September 30, 2024 |  | December 31, 2023
Assets and liabilities at 100% |  | Assets |  | Liabilities |  | Assets |  | Liabilities
AS Ajax E LLC |  | $ | — |  |  | $ | — |  |  | $ | 2,553 |  |  | $ | 39 |
Great Ajax FS LLC |  | — |  |  | — |  |  | 71,477 |  |  | 59,949 |
Loan pool LLCs |  | — |  |  | — |  |  | 1,200 |  |  | 232 |
Gaea Real Estate Corp. |  | — |  |  | — |  |  | 167,591 |  |  | 73,499 |
Thetis Asset Management LLC |  | 2,682 |  |  | 84 |  |  | 4,643 |  |  | 1,305 |
Net income/(loss), assets and liabilities of unconsolidated affiliates at the Company’s share
|  | Three months ended September 30, |  | Nine months ended September 30,
Net income/(loss) at the Company's share |  | 2024 |  | 2023 |  | 2024 |  | 2023
AS Ajax E LLC |  | $ | — |  |  | $ | 9 |  |  | $ | 13 |  |  | $ | 29 |
Great Ajax FS LLC |  | — |  |  | (9) |  |  | (26) |  |  | (96) |
Loan pool LLCs |  | — |  |  | (6) |  |  | (14) |  |  | (22) |
Gaea Real Estate Corp. |  | — |  |  | (1,007) |  |  | (108) |  |  | (1,520) |
Thetis Asset Management LLC |  | (188) |  |  | 339 |  |  | 2,160 |  |  | 312 |
|  | September 30, 2024 |  | December 31, 2023
Assets and liabilities at the Company's share |  | Assets |  | Liabilities |  | Assets |  | Liabilities
AS Ajax E LLC |  | $ | — |  |  | $ | — |  |  | $ | 420 |  |  | $ | 6 |
Great Ajax FS LLC |  | — |  |  | — |  |  | 6,854 |  |  | 5,748 |
Loan pool LLCs |  | — |  |  | — |  |  | 480 |  |  | 93 |
Gaea Real Estate Corp. |  | — |  |  | — |  |  | 37,272 |  |  | 16,346 |
Thetis Asset Management LLC |  | 531 |  |  | 17 |  |  | 919 |  |  | 258 |
Consolidated Affiliates The Company consolidates the results and balances of certain securitization trusts which are established to provide debt financing to the Company by securitizing pools of mortgage loans. These trusts are considered to be VIEs, and the Company has determined that it is the primary beneficiary of certain of these VIEs. See Note 9 — Debt. The Company also consolidates the activities and balances of its controlled affiliates, which includes AS Ajax E II, in which the Company now holds a zero interest, Ajax Mortgage Trust 2017-D (“2017-D”), in which the Company owns a 50% interest and Great Ajax II REIT. Great Ajax II REIT wholly owns Great Ajax II Depositor LLC which acts as the depositor of mortgage loans into securitization trusts and holds subordinated securities issued by such trusts. At both September 30, 2024 and December 31, 2023, Great Ajax II REIT was 99.9% owned by the Company.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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