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Other Expenses (Tables)
 12 Months Ended
Dec. 31, 2018
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,  
     2018      2017      2016  

Professional services(1)

    $ 4,437      $ 3,812      $ 3,311  

Operating and other costs(1)

      2,938        1,903        2,147  
  

 

 

     

 

 

     

 

 

  

Subtotal

      7,375        5,715        5,458  

Non-cash and CT Legacy Portfolio compensation expenses

         

Management incentive awards plan - CTOPI(2)

      —          —          1,568  

Management incentive awards plan - CT Legacy Partners(3)

      —          —          1,094  

Restricted class A common stock earned

      27,654        23,593        19,052  

Director stock-based compensation

      500        438        375  
  

 

 

     

 

 

     

 

 

  

Subtotal

      28,154        24,031        22,089  
  

 

 

     

 

 

     

 

 

  

Total BXMT expenses

      35,529        29,746        27,547  

Other expenses

      —        176        169  
  

 

 

     

 

 

     

 

 

  

Total general and administrative expenses

    $   35,529      $   29,922      $   27,716  
  

 

 

     

 

 

     

 

 

  

 

  (1)

During the years ended December 31, 2018 and December 31, 2017, we recognized an aggregate $427,000 and $232,000, respectively, 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.