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v3.19.2

SEGMENT REPORTING (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2019 USD ($) | Jun. 30, 2018 USD ($) | Jun. 30, 2019 USD ($) segment | Jun. 30, 2018 USD ($) | Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items] |  |  |  |  |
Number of reportable segments | segment |  |  | 1 |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | $ 46,934 | $ 46,197 | $ 92,542 | $ 89,232 |
Property operating expenses, including real estate taxes | 19,516 | 18,937 | 39,552 | 38,204 |
Net operating income | 27,418 | 27,260 | 52,990 | 51,028 |
Casualty gain (loss) | (92) | 0 | (733) | (50) |
Depreciation and amortization | (18,437) | (19,132) | (36,548) | (39,648) |
Impairment of real estate investments | 0 | (17,809) | 0 | (17,809) |
Loss on impairment |  | (17,809) |  |  |
General and administrative expenses | (3,549) | (4,348) | (7,355) | (7,967) |
Interest expense | (7,590) | (8,562) | (15,486) | (16,858) |
Loss on debt extinguishment | (407) | (12) | (409) | (133) |
Interest and other income | 468 | 460 | 892 | 1,149 |
Income (loss) before gain (loss) on sale of real estate and other investments, gain (loss) on litigation settlement, and income (loss) from discontinued operations | (3,634) | (23,587) | (9,648) | (33,109) |
Gain (loss) on sale of real estate and other investments | 615 | 0 | 669 | 2,304 |
Gain (loss) on litigation settlement | 6,286 | 0 | 6,286 | 0 |
Income (loss) from continuing operations | 3,267 | (23,587) | (2,693) | (30,805) |
Income (loss) from discontinued operations | 0 | 238 | 0 | 14,120 |
NET INCOME (LOSS) | 3,267 | (23,349) | (2,693) | (16,685) |
Segment assets |  |  |  |  |
Property owned | 1,663,539 |  | 1,663,539 |  | $ 1,627,636
Less accumulated depreciation | (380,321) |  | (380,321) |  | (353,871)
Total property owned | 1,283,218 |  | 1,283,218 |  | 1,273,765
Cash and cash equivalents | 17,406 | 20,451 | 17,406 | 20,451 | 13,792
Restricted cash | 4,672 | 4,454 | 4,672 | 4,454 | 5,464
Other assets | 30,626 |  | 30,626 |  | 27,265
Unimproved land | 1,746 |  | 1,746 |  | 5,301
Mortgage loans receivable | 10,140 |  | 10,140 |  | 10,410
TOTAL ASSETS | 1,347,808 |  | 1,347,808 |  | 1,335,997
Management Service |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Property management | (1,445) | (1,444) | (2,999) | (2,821) |
Operating Segments | Multifamily |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | 45,945 | 43,149 | 90,759 | 83,203 |
Property operating expenses, including real estate taxes | 19,111 | 17,826 | 38,799 | 35,954 |
Net operating income | 26,834 | 25,323 | 51,960 | 47,249 |
Segment assets |  |  |  |  |
Property owned | 1,628,133 |  | 1,628,133 |  | 1,582,917
Less accumulated depreciation | (371,213) |  | (371,213) |  | (340,081)
Total property owned | 1,256,920 |  | 1,256,920 |  | 1,242,836
Operating Segments | All Other |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | 989 | 3,048 | 1,783 | 6,029 |
Property operating expenses, including real estate taxes | 405 | 1,111 | 753 | 2,250 |
Net operating income | 584 | $ 1,937 | 1,030 | $ 3,779 |
Segment assets |  |  |  |  |
Property owned | 35,406 |  | 35,406 |  | 44,719
Less accumulated depreciation | (9,108) |  | (9,108) |  | (13,790)
Total property owned | $ 26,298 |  | $ 26,298 |  | $ 30,929

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- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(d)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
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