REAL ESTATE (Tables)

3 Months Ended

Mar. 31, 2019

Real Estate Properties Base Purchase Price [Abstract]

Schedule of Useful Lives of Investments in Commercial Real Estate

Real estate investments are depreciated using the straight-line method over the estimated useful lives of the assets, summarized as follows:



Category	Term
Building and building improvements	1 - 44 years
Furniture and fixtures	1 - 4 years

Summary of Real Estate



	March 31, 2019			December 31, 2018
Real estate, net	(dollars in thousands)
Land	$	128,114		$	128,742
Buildings and improvements	578,067			581,320
Furniture, fixtures and equipment	12,333			11,602
Subtotal	718,514			721,664
Less: accumulated depreciation	(72,008		)	(67,026		)
Total real estate held for investment, at amortized cost, net	646,506			654,638
Equity in unconsolidated joint ventures	87,733			84,835
Total real estate, net	$	734,239		$	739,473

Minimum Future Rentals on Non-cancelable Leases

Approximate future minimum rents to be received over the next five years and thereafter for non-cancelable operating leases in effect at March 31, 2019 for consolidated investments in real estate are as follows:



March 31, 2019
(dollars in thousands)
2019 (remaining)	$	38,061
2020	45,616
2021	44,314
2022	40,459
2023	37,635
Later years	208,841
Total	$	414,926