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v3.20.2

SEGMENT REPORTING (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2020 USD ($) | Jun. 30, 2019 USD ($) | Jun. 30, 2020 USD ($) segment | Jun. 30, 2019 USD ($) | Dec. 31, 2019 USD ($)
Segment Reporting Information [Line Items] |  |  |  |  |
Number of reportable segments | segment |  |  | 1 |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | $ 43,910 | $ 46,934 | $ 88,316 | $ 92,542 |
Property operating expenses, including real estate taxes | 17,770 | 19,516 | 36,703 | 39,552 |
Net operating income | 26,140 | 27,418 | 51,613 | 52,990 |
Property management | (1,345) | (1,445) | (2,899) | (2,999) |
Casualty gain (loss) | (913) | (92) | (1,240) | (733) |
Depreciation and amortization | (18,156) | (18,437) | (36,316) | (36,548) |
General and administrative expenses | (3,202) | (3,549) | (6,630) | (7,355) |
Interest expense | (6,940) | (7,590) | (13,851) | (15,486) |
Interest and other income | 538 | 468 | (2,239) | 892 |
Income (loss) before gain (loss) on sale of real estate and other investments and gain (loss) on litigation settlement | (3,895) | (3,634) | (11,579) | (9,648) |
Loss on debt extinguishment | (17) | (407) | (17) | (409) |
Gain (loss) on sale of real estate and other investments | (190) | 615 | (190) | 669 |
Gain (loss) on litigation settlement | 0 | 6,286 | 0 | 6,286 |
NET INCOME (LOSS) | (4,085) | 3,267 | (11,769) | (2,693) |
Segment assets |  |  |  |  |
Property owned | 1,694,033 |  | 1,694,033 |  | $ 1,643,078
Less accumulated depreciation | (383,917) |  | (383,917) |  | (349,122)
Total property owned | 1,310,116 |  | 1,310,116 |  | 1,293,956
Cash and cash equivalents | 52,714 | 17,406 | 52,714 | 17,406 | 26,579
Restricted cash | 2,535 | 4,672 | 2,535 | 4,672 | 19,538
Other assets | 16,484 |  | 16,484 |  | 34,829
Unimproved land |  |  |  |  | 1,376
Mortgage loans receivable | 10,961 |  | 10,961 |  | 16,140
TOTAL ASSETS | 1,392,810 |  | 1,392,810 |  | 1,392,418
Management Service |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Property management | (1,345) | (1,445) | (2,899) | (2,999) |
Casualty gain (loss) |  | (92) | (1,240) | (733) |
Operating Segments | Multifamily |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | 43,492 | 39,867 | 86,823 | 78,606 |
Property operating expenses, including real estate taxes | 17,521 | 16,203 | 36,099 | 32,974 |
Net operating income | 25,971 | 23,664 | 50,724 | 45,632 |
Segment assets |  |  |  |  |
Property owned | 1,660,419 |  | 1,660,419 |  | 1,609,471
Less accumulated depreciation | (373,244) |  | (373,244) |  | (339,272)
Total property owned | 1,287,175 |  | 1,287,175 |  | 1,270,199
Operating Segments | All Other |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | 418 | 7,067 | 1,493 | 13,936 |
Property operating expenses, including real estate taxes | 249 | 3,313 | 604 | 6,578 |
Net operating income | 169 | $ 3,754 | 889 | $ 7,358 |
Segment assets |  |  |  |  |
Property owned | 33,614 |  | 33,614 |  | 33,607
Less accumulated depreciation | (10,673) |  | (10,673) |  | (9,850)
Total property owned | $ 22,941 |  | $ 22,941 |  | $ 23,757

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