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INVESTMENT IN AND ADVANCES TO UNCONSOLIDATED JOINT VENTURES (Tables)
 12 Months Ended
Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Summary of the Company's investments in unconsolidated joint ventures, which the entity accounts for using the equity method
The following is a summary of the Company’s investments in and advances to unconsolidated joint ventures, which we account for using the equity method, as of December 31, 2020 and 2019 ($ in thousands):
 
EntityDecember 31, 2020December 31, 2019
Grace Lake JV, LLC$4,023 $3,047 
24 Second Avenue Holdings LLC42,230 45,386 
Investment in unconsolidated joint ventures$46,253 $48,433 
Summary of the Company's allocated earnings based on its ownership interests from investment in unconsolidated joint ventures
The following is a summary of the Company’s allocated earnings (losses) based on its ownership interests from investment in unconsolidated joint ventures for the years ended December 31, 2020 and 2019 ($ in thousands):
 
 Year Ended December 31,
Entity202020192018
Grace Lake JV, LLC$976 $1,047 1,658 
24 Second Avenue Holdings LLC845 2,385 (868)
Earnings (loss) from investment in unconsolidated joint ventures$1,821 $3,432 $790 
Summary of the combined results from operations of the unconsolidated joint ventures for the period in which the Company had investment interests
The following is a summary of the combined financial position of the unconsolidated joint ventures in which the Company had investment interests as of December 31, 2020 and 2019 ($ in thousands):
 
 December 31, 2020December 31, 2019
Total assets$114,916 $118,727 
Total liabilities75,775 78,762 
Partners’/members’ capital$39,141 $39,965 

The following is a summary of the combined results from operations of the unconsolidated joint ventures for the period in which the Company had investment interests during the years ended December 31, 2020, 2019 and 2018 ($ in thousands):
 
 Year Ended December 31,
 202020192018
Total revenues$17,461 $7,630 $19,122 
Total expenses14,206 14,930 13,381 
Net income (loss)$3,255 $(7,300)$5,741