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Other Expenses (Tables)
 12 Months Ended
Dec. 31, 2014
Other Income and Expenses [Abstract]  
Schedule of General and Administrative Expenses

General and administrative expenses consisted of the following ($ in thousands):

 

     Year Ended December 31, 2014  
     2014      2013      2012  

Professional services

    $ 2,627       $ 2,441       $ 895   

Operating and other costs

      2,009         1,797         1,732   

Transaction costs – investment management sale

      —           —           3,870   
  

 

 

     

 

 

     

 

 

  
     4,636         4,238         6,497   
  

 

 

     

 

 

     

 

 

  

Non-cash and CT Legacy Portfolio compensation expenses

         

Management incentive awards plan – CTOPI(1)

      12,898         —           —     

Management incentive awards plan – CT Legacy Partners(2)

      1,374         5,089         2,232   

Restricted class A common stock earned

      7,988         1,064         1,353   

Director stock-based compensation

      375         263         223   
  

 

 

     

 

 

     

 

 

  
     22,635         6,416         3,808   
  

 

 

     

 

 

     

 

 

  

Expenses of consolidated securitization vehicles

      528         851         64   
  

 

 

     

 

 

     

 

 

  
   $ 27,799       $ 11,505       $ 10,369   
  

 

 

     

 

 

     

 

 

  

 

  (1)

Represents the portion of CTOPI carried interest revenue paid under compensation awards. See Note 5 for further discussion.

  
  (2)

Represents the accrual of amounts payable under the CT Legacy Partners management incentive awards during the period. See below for discussion of the CT Legacy Partners management incentive awards plan.