CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash	$ 24,132	$ 33,947
Restricted cash	937	725
Receivables	3,228	1,414
Loans and receivables from managed entities and related parties, net	26,667	32,745
Investments in real estate, net	16,022	17,097
Investment securities, at fair value	45,672	41,383
Investments in unconsolidated loan manager (see Note 7)	32,616	39,655
Investments in unconsolidated entities	17,553	16,024
Property and equipment, net	5,371	5,063
Deferred tax assets, net	29,264	32,818
Other assets	9,733	5,556
Total assets	211,195	226,427
Liabilities:
Accrued expenses and other liabilities	27,184	22,474
Payables to managed entities and related parties	3,145	3,124
Borrowings	20,747	20,970
Total liabilities	$ 51,076	$ 46,568
Commitments and contingencies
Equity:
Preferred stock, $1.00 par value, 1,000,000 shares authorized; none outstanding	$ 0	$ 0
Common stock, $.01 par value, 49,000,000 shares authorized; 34,973,987 and 34,489,568 shares issued (including nonvested restricted stock of 1,095,238 and 833,082), respectively	339	335
Additional paid-in capital	311,491	308,134
Accumulated deficit	(30,676)	(31,932)
Treasury stock, at cost; 14,460,024 and 11,764,417 shares, respectively	(139,858)	(120,182)
Accumulated other comprehensive income (loss)	(3,533)	2,906
Total stockholders’ equity	137,763	159,261
Noncontrolling interests	22,356	20,598
Total equity	160,119	179,859
Liabilities and equity	$ 211,195	$ 226,427