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INVESTMENT IN UNCONSOLIDATED INVESTEES (Tables)
 12 Months Ended
Dec. 31, 2014
SCHEDULE OF INVESTMENT IN UNCONSOLIDATED INVESTEES  
Investments accounted for via the equity method Table Text Block

Investments accounted for via the equity method consists of the following:

 

 

 

Percentage ownership as of December 31,

 

 

 

2014

 

 

2013

 

 

2012

 

 

 

 

 

 

 

 

 

 

 

Gruppa Florentina, LLC(1)

 

 

20.00

%

 

 

20.00

%

 

 

20.00

%

LK-Four Hickory, LLC(2)

 

 

0.00

%

 

 

0.00

%

 

 

0.00

%
Schedule Of The Financial Position And Results Of Operations

The following is a summary of the financial position and results of operations from our unconsolidated subsidiaries and investees (dollars in thousands):

 

 

 

For the Twelve Months Ended December 31,

 

 

 

2014

 

 

2013

 

 

2012

 

Other Investees

 

 

 

 

 

 

 

 

 

Real estate, net of accumulated depreciation

 

$

11,647

 

 

$

10,823

 

 

$

12,343

 

Notes receivable

 

 

7,326

 

 

 

6,526

 

 

 

6,192

 

Other assets

 

 

30,291

 

 

 

32,131

 

 

 

32,145

 

Notes payable

 

 

(10,429

)

 

 

(11,022

)

 

 

(13,824

)

Other liabilities

 

 

(7,192

)

 

 

(8,134

)

 

 

(7,443

)

Shareholders' equity/partners capital

 

 

(31,643

)

 

 

(30,324

)

 

 

(29,413

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

48,893

 

 

$

46,276

 

 

$

45,505

 

Depreciation

 

 

(1,151

)

 

 

(1,166

)

 

 

(1,277

)

Operating expenses

 

 

(45,590

)

 

 

(42,330

)

 

 

(41,188

)

Interest expense

 

 

(901

)

 

 

(1,022

)

 

 

(1,181

)

Income from continuing operations

 

$

1,251

 

 

$

1,758

 

 

$

1,859

 

Income from discontinued operations

 

 

-

 

 

 

-

 

 

 

-

 

Net income

 

$

1,251

 

 

$

1,758

 

 

$

1,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company's proportionate share of earnings (1)

 

$

250

 

 

$

352

 

 

$

372