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INVESTMENT IN UNCONSOLIDATED INVESTEES (Table)
 6 Months Ended
Jun. 30, 2015
Investment In Unconsolidated Investees Table  
Schedule of investments accounted for via the equity method

Investments in unconsolidated investees consist of the following:

 

              Percentage ownership as of
      June 30, 2015   June 30, 2014
Gruppa Florentina, LLC   20.00%   20.00%
Schedule of the financial position and results of operations - unconsolidated parent

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

 

As of June 30,  2015  2014
Real estate, net of accumulated depreciation  $12,518   $10,832 
Notes receivable   7,681    6,934 
Other assets   30,233    31,107 
Notes payable   (10,685)   (11,002)
Other liabilities   (6,500)   (6,631)
Shareholders' equity   (33,247)   (31,240)
           
For the Six Months Ended June 30,   2015    2014 
Revenue  $26,048   $23,990 
Depreciation   (575)   (575)
Operating expenses   (23,609)   (22,121)
Interest expense   (404)   (445)
Income from continuing operations   1,460    849 
Income from discontinued operations   —      —   
Net income  $1,460   $849 
           
Company's proportionate share of earnings   $292   $170