Investment in 111 West 57th Partners LLC (Tables)

3 Months Ended

Mar. 31, 2016

Investment in 111 West 57th Partners LLC [Abstract]

Initial Investment and Other Information Relating to the 111 West 57th Property

Amounts relating to the Company's initial investment and other information relating to the 111 West 57^th Property is as follows:

($ in thousands)
Company's aggregate initial investment	$	57,250
Company's aggregate initial membership interest %		60.3	%
Other members and Sponsor initial investment	$	37,750
Approximate gross square feet of project		346,000

Information Relating to Financing for 111 West 57th Partners

Information relating to the June 30, 2015 financing for 111 West 57^th Partners is as follows:


(in thousands)
Financing obtained by 111 West 57^th Partners	$	725,000
Annaly CRE LLC initial mortgage and acquisition loan repaid	$	230,000

Information Relating to the July 2015 Distribution

Information relating to the July 2015 Distribution is as follows:

(in thousands)
Distribution attributable to Company's investment	$	11,699
Distribution retained by the Company, net of amounts repaid to Capital LLC	$	1,831

Capital Contributed by Capital LLC and fully repaid

Capital contributed by Capital LLC in December 2014 and April 2015, which was fully repaid as part of the July 2015 Distribution, was as follows:

(in thousands)
Capital contributed by Capital LLC		$	9,868

Capital Contributions to the Joint Venture

The Company made additional capital contributions to the Joint Venture as indicated below:

(in housands)		Three Months Ended March 31, 2016
Capital contributions		$	-

Equity Method Investments

The following tables present summarized financial information for the Company's equity method investment in 111 West 57^th Partners. The amounts shown represent 100% of the financial position and results of operations of 111 West 57^thPartners for the dates indicated below.

(in thousands)

Assets:	March 31, 2016		December 31, 2015
Real estate held for development, net	$	468,219	$	440,370
Escrow deposits		9,400		9,400
Other assets		22,708		26,827
Total assets	$	500,327	$	476,597
Liabilities:
Loans payable	$	365,180	$	340,693
Other liabilities		14,340		14,447
Total liabilities		379,520		355,140
Equity:
Total members' equity		120,807		121,457
Total liabilities and members' equity	$	500,327	$	476,597

	Three Months Ended March 31,
	2016				2015
Rental income		$	–			$	–
Expenses			650				417
Net income (loss)		$	(650	)		$	(417	)