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v3.20.2

SEGMENT REPORTING (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2020 USD ($) | Sep. 30, 2019 USD ($) | Sep. 30, 2020 USD ($) segment | Sep. 30, 2019 USD ($) | Dec. 31, 2019 USD ($)
Segment Reporting Information [Line Items] |  |  |  |  |
Number of reportable segments | segment |  |  | 1 |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | $ 44,138 | $ 47,436 | $ 132,454 | $ 139,978 |
Property operating expenses, including real estate taxes | 18,531 | 19,910 | 55,234 | 59,462 |
Net operating income | 25,607 | 27,526 | 77,220 | 80,516 |
Property management | (1,442) | (1,553) | (4,341) | (4,552) |
Casualty gain (loss) | (91) | (178) | (1,331) | (911) |
Depreciation and amortization | (18,995) | (18,751) | (55,311) | (55,299) |
General and administrative expenses | (3,077) | (3,448) | (9,707) | (10,803) |
Interest expense | (6,771) | (7,694) | (20,622) | (23,180) |
Interest and other income (loss) | 281 | 498 | (1,958) | 1,390 |
Income (loss) before gain (loss) on sale of real estate and other investments, and gain (loss) on litigation settlement | (4,492) | (4,687) | (16,071) | (14,335) |
Loss on debt extinguishment | (4) | (1,087) | (21) | (1,496) |
Gain (loss) on sale of real estate and other investments | 25,676 | 39,105 | 25,486 | 39,774 |
Gain (loss) on litigation settlement | 0 | 300 | 0 | 6,586 |
NET INCOME (LOSS) | 21,184 | 34,718 | 9,415 | 32,025 |
Segment assets |  |  |  |  |
Property owned | 1,805,390 |  | 1,805,390 |  | $ 1,643,078
Less accumulated depreciation | (380,392) |  | (380,392) |  | (349,122)
Total property owned | 1,424,998 |  | 1,424,998 |  | 1,293,956
Unimproved land |  |  |  |  | 1,376
Mortgage loans receivable | 17,986 |  | 17,986 |  | 16,140
Cash and cash equivalents | 16,804 | 8,500 | 16,804 | 8,500 | 26,579
Restricted cash | 2,199 | 3,339 | 2,199 | 3,339 | 19,538
Other assets | 16,947 |  | 16,947 |  | 34,829
TOTAL ASSETS | 1,478,934 |  | 1,478,934 |  | 1,392,418
Operating Segments | Multifamily |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | 42,463 | 38,971 | 126,296 | 114,726 |
Property operating expenses, including real estate taxes | 17,910 | 16,043 | 52,403 | 47,387 |
Net operating income | 24,553 | 22,928 | 73,893 | 67,339 |
Segment assets |  |  |  |  |
Property owned | 1,772,356 |  | 1,772,356 |  | 1,572,530
Less accumulated depreciation | (369,523) |  | (369,523) |  | (319,318)
Total property owned | 1,402,833 |  | 1,402,833 |  | 1,253,212
Operating Segments | All Other |  |  |  |  |
Segment revenues and net operating income [Abstract] |  |  |  |  |
Revenue | 1,675 | 8,465 | 6,158 | 25,252 |
Property operating expenses, including real estate taxes | 621 | 3,867 | 2,831 | 12,075 |
Net operating income | 1,054 | $ 4,598 | 3,327 | $ 13,177 |
Segment assets |  |  |  |  |
Property owned | 33,034 |  | 33,034 |  | 70,548
Less accumulated depreciation | (10,869) |  | (10,869) |  | (29,804)
Total property owned | $ 22,165 |  | $ 22,165 |  | $ 40,744

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