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Other Expenses (Tables)
 12 Months Ended
Dec. 31, 2017
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,  
     2017      2016      2015  

Professional services(1)

    $ 3,812      $ 3,311      $ 3,156  

Operating and other costs(1)

      1,903        2,147        2,709  

GE transaction costs

      —          —          9,623  
  

 

 

     

 

 

     

 

 

  

Subtotal

      5,715        5,458        15,488  

Non-cash and CT Legacy Portfolio compensation expenses

         

Management incentive awards plan - CTOPI(2)

      —          1,568        5,370  

Management incentive awards plan - CT Legacy Partners(3)

      —          1,094        2,177  

Restricted class A common stock earned

      23,593        19,052        12,966  

Director stock-based compensation

      438        375        375  
  

 

 

     

 

 

     

 

 

  

Subtotal

      24,031        22,089        20,888  
  

 

 

     

 

 

     

 

 

  

Total BXMT expenses

      29,746        27,547        36,376  

Other expenses

      176        169        333  
  

 

 

     

 

 

     

 

 

  

Total general and administrative expenses

    $   29,922      $   27,716      $   36,709  
  

 

 

     

 

 

     

 

 

  

 

  (1)

During the year ended December 31, 2017, we recognized an aggregate $232,000 of expenses related to our Multifamily Joint Venture.

  
  (2)

Represents the portion of CTOPI promote revenue recorded under compensation awards. See Note 4 for further discussion.

  
  (3)

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