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INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015
--- | --- | ---
Assets: |  |  |
Cash |  | $ 9,687 | $ 7,888
Real estate |  | 32,488 | 33,366
Other assets |  | 3,936 | 4,514
Total assets |  | 46,111 | 45,768
Liabilities and equity: |  |  |
Accounts payable and other liabilities |  | 5,631 | 7,331
Notes and mortgages payable |  | 13,345 | 13,345
Equity of: |  |  |
Meritage | [1] | 8,104 | 8,194
Other |  | 19,031 | 16,898
Total liabilities and equity |  | $ 46,111 | $ 45,768
[1] | Balance represents Meritage’s interest, as reflected in the financial records of the respective joint ventures. This balance may differ from the balance reported in our consolidated financial statements due to the following reconciling items: (i) timing differences for revenue and distributions recognition, (ii) step-up basis and corresponding amortization, (iii) capitalization of interest on qualified assets, (iv) income deferrals as discussed in Note (2) below and (v) the cessation of allocation of losses from joint ventures in which we have previously written down our investment balance to zero and where we have no commitment to fund additional losses.

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