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REAL ESTATE ACTIVITY (Table)

9 Months Ended

Sep. 30, 2015

Real Estate Activity Table

Schedule of the real estate owned

Below is a summary of the real estate owned as of September 30, 2015 (dollars in thousands):

Apartments		$	578,838
Apartments under construction			7,503
Commercial properties			218,447
Land held for development			156,310
Real estate subject to sales contract			9,408
Total real estate		$	970,506
Less accumulated depreciation			(145,295	)
Total real estate, net of depreciation		$	825,211

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Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments.

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