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COMMITMENTS, CONTINGENCIES, AND LIQUIDITY (Details Narrative) $ in Thousands | 1 Months Ended |  |  |  |  |
--- | --- | --- | --- | --- | --- | ---
Jul. 20, 2015 USD ($) | Feb. 28, 2014 | Dec. 31, 2013 USD ($) | Oct. 31, 2011 USD ($) | Sep. 30, 2015 USD ($) a | Dec. 13, 2013 a | Dec. 31, 2012 USD ($) | Jan. 31, 2012 USD ($) | Dec. 17, 2007 USD ($)
Area of land | a |  |  |  |  | 4,000 |  |  |  |
ART and ART Midwest, Inc. [Member] |  |  |  |  |  |  |  |  |
Damages sought value |  |  |  | $ 74,000 |  |  |  |  |
Actual damages sought value |  |  |  | 26,000 |  |  |  |  |
Interest damages sought value |  |  |  | $ 48,000 |  |  |  |  |
Description of plaintiff |  |  |  | Mr. David Clapper and entities related to Mr. Clapper (collectively, the “Clapper Parties”) |  |  |  |  |
Description of defendant |  |  |  | A formerly owned entity (American Realty Trust, Inc.) and its former subsidiary (ART Midwest, Inc.) |  |  |  |  |
Description of allegation |  |  |  | The matter originally involved a transaction in 1998 in which ART Midwest, Inc. was to acquire eight residential apartment complexes from the Clapper Parties. |  |  |  |  |
Description of action taken by court |  | The Court of Appeals affirmed a portion of the judgment in favor of the Clapper Parties, but also ruled that a double counting of a significant portion of the damages had occurred and remanded the case back to the trial court to recalculate the damage award, as well as pre and post-judgment interest thereon. |  |  |  |  |  |  |
Total assets |  |  |  |  |  |  | $ 10,000 |  |
Notes receivable from the sale of ART |  |  |  |  |  |  |  | $ 10,000 |
Port Olpentiz [Member] |  |  |  |  |  |  |  |  |
Description of plaintiff |  |  | ARL |  |  |  |  |  |
Description of defendant |  |  | The lawsuits are against: 1) the former German partner and his company, and 2) against the law firm in Hamburg originally hired to protect ARL’s investment in the project |  |  |  |  |  |
Description of allegation |  |  | ARL had filed two lawsuits in Germany to recover funds invested in the project. |  |  |  |  |  |
Area of land | a |  |  |  |  |  | 420 |  |  |
Write-off of loans |  |  | $ 5,300 |  |  |  |  |  |
Note Payable for LK-Four Hickory [Member] |  |  |  |  |  |  |  |  |
Current notes oustanding balance |  |  |  |  | $ 22,100 |  |  |  |
Note payable guarantee |  |  |  |  |  |  |  |  | $ 28,000
Dynex Capital, Inc. [Member] |  |  |  |  |  |  |  |  |
Description of plaintiff | ART and TCI |  |  |  |  |  |  |  |
Description of defendant | Dynex Capital Inc. |  |  |  |  |  |  |  |
Description of action taken by court | The Final Judgment entered against Dynex Commercial, Inc. on July 20, 2015 awarded damages, plus pre-judgment interest. The Company is reviewing the Final Judgment with counsel to determine the appropriate steps moving forward now that they have obtained this Final Judgment against Dynex Commercial, Inc. |  |  |  |  |  |  |  |
Unfunded loan commitment | $ 160,000 |  |  |  |  |  |  |  |
Damages - awarded amount | 256 |  |  |  |  |  |  |  |
Damages - pre-judgement interest | 192 |  |  |  |  |  |  |  |
Damages - total | 448 |  |  |  |  |  |  |  |
Awarded attorney fees | $ 1,600 |  |  |  |  |  |  |  |
Post-judgment interest rate | 5.00% |  |  |  |  |  |  |  |
Dynex Capital, Inc. [Member] | American Reality Trust, Inc. [Member] |  |  |  |  |  |  |  |  |
Damages - awarded amount | $ 14,200 |  |  |  |  |  |  |  |
Damages - pre-judgement interest | 10,600 |  |  |  |  |  |  |  |
Damages - total | 24,800 |  |  |  |  |  |  |  |
Dynex Capital, Inc. [Member] | Transcontinential Realty Investors [Member] |  |  |  |  |  |  |  |  |
Damages - awarded amount | 11,100 |  |  |  |  |  |  |  |
Damages - pre-judgement interest | 8,400 |  |  |  |  |  |  |  |
Damages - total | $ 19,500 |  |  |  |  |  |  |  |

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