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OPERATING SEGMENTS (Tables) | 3 Months Ended
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Mar. 31, 2016
Segment Reporting [Abstract] |
Schedule of operating income of each operating segment and each segment's assets | Presented below is our reportable segments’ operating income for the three months ended March 31, 2016 and 2015, including segment assets and expenditures (dollars in thousands):
For the Three Months Ended March 31, 2016 |  | Commercial Properties |  |  | Apartments |  |  | Land |  |  | Other |  |  | Total |
Rental and other property revenues |  | $ | 7,890 |  |  | $ | 21,315 |  |  | $ | — |  |  | $ | — |  |  | $ | 29,205 |
Property operating expenses |  |  | (5,095 | ) |  |  | (9,394 | ) |  |  | (747 | ) |  |  | 20 |  |  |  | (15,216 | )
Depreciation |  |  | (2,314 | ) |  |  | (3,534 | ) |  |  |  |  |  |  | 18 |  |  |  | (5,830 | )
Mortgage and loan interest |  |  | (1,974 | ) |  |  | (5,502 | ) |  |  | (312 | ) |  |  | (5,737 | ) |  |  | (13,525 | )
Loan charges and prepayment penalties |  |  | — |  |  |  | (655 | ) |  |  | — |  |  |  | (34 | ) |  |  | (689 | )
Interest income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,291 |  |  |  | 5,291 |
Gain (loss) on sale of income producing properties |  |  | (244 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (244 | )
Gain (loss) on land sales |  |  | — |  |  |  | — |  |  |  | 1,652 |  |  |  | — |  |  |  | 1,652 |
Segment operating income (loss) |  | $ | (1,737 | ) |  | $ | 2,230 |  |  | $ | 593 |  |  | $ | (442 | ) |  | $ | 644 |
Capital expenditures |  |  | 1,401 |  |  |  | — |  |  |  | 770 |  |  |  | — |  |  |  | 2,171 |
Real estate assets |  |  | 152,945 |  |  |  | 556,294 |  |  |  | 146,132 |  |  |  | — |  |  |  | 855,371 |
Property Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales price |  | $ | 1,500 |  |  | $ | — |  |  | $ | 4,180 |  |  | $ | — |  |  | $ | 5,680 |
Cost of sale |  |  | (1,744 | ) |  |  | — |  |  |  | (2,528 | ) |  |  | — |  |  |  | (4,272 | )
Recognized prior deferred gain |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Gain (loss) on sale |  | $ | (244 | ) |  | $ | — |  |  | $ | 1,652 |  |  | $ | — |  |  | $ | 1,408 |
For the Three Months Ended March 31, 2015 |  | Commercial Properties |  |  | Apartments |  |  | Land |  |  | Other |  |  | Total |
Rental and other property revenues |  | $ | 7,091 |  |  | $ | 16,019 |  |  | $ | — |  |  | $ | 46 |  |  | $ | 23,156 |
Property operating expenses |  |  | (4,267 | ) |  |  | (7,042 | ) |  |  | (349 | ) |  |  | (10 | ) |  |  | (11,668 | )
Depreciation |  |  | (1,927 | ) |  |  | (2,795 | ) |  |  | — |  |  |  | 18 |  |  |  | (4,704 | )
Mortgage and loan interest |  |  | (1,616 | ) |  |  | (4,333 | ) |  |  | (1,116 | ) |  |  | (2,729 | ) |  |  | (9,794 | )
Loan charges and prepayment penalties |  |  | — |  |  |  | (1,850 | ) |  |  | — |  |  |  | — |  |  |  | (1,850 | )
Interest income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,237 |  |  |  | 5,237 |
Gain (loss) on land sales |  |  | — |  |  |  | — |  |  |  | 2,876 |  |  |  | — |  |  |  | 2,876 |
Segment operating income (loss) |  | $ | (719 | ) |  | $ | (1 | ) |  | $ | 1,411 |  |  | $ | 2,562 |  |  | $ | 3,253 |
Capital expenditures |  |  | 3,192 |  |  |  | 257 |  |  |  | 826 |  |  |  | — |  |  |  | 4,275 |
Real estate assets |  |  | 143,686 |  |  |  | 387,847 |  |  |  | 165,073 |  |  |  | — |  |  |  | 696,606 |
Property Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales price |  | $ | — |  |  | $ | — |  |  | $ | 7,257 |  |  | $ | — |  |  | $ | 7,257 |
Cost of sale |  |  | — |  |  |  | — |  |  |  | (4,381 | ) |  |  | — |  |  |  | (4,381 | )
Gain (loss) on sale |  | $ | — |  |  | $ | — |  |  | $ | 2,876 |  |  | $ | — |  |  | $ | 2,876 |
Schedule of Segment information to Consolidated Statements of Operations | The table below reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations (dollars in thousands):
|  | For the Three Months Ended March 31, |
|  | 2016 |  |  | 2015 |
Segment operating income (loss) |  | $ | 644 |  |  | $ | 3,253 |
Other non-segment items of income (expense) |  |  |  |  |  |  |  |
General and administrative |  |  | (2,025 | ) |  |  | (2,201 | )
Net income fee to related party |  |  | (72 | ) |  |  | (290 | )
Advisory fee to related party |  |  | (2,738 | ) |  |  | (2,292 | )
Other income |  |  | 298 |  |  |  | 4,097 |
Earnings from unconsolidated investees |  |  | 155 |  |  |  | 45 |
Litigation settlement |  |  | — |  |  |  | (73 | )
Income tax benefit |  |  | 1 |  |  |  | 103 |
Net income (loss) from continuing operations |  | $ | (3,737 | ) |  | $ | 2,642 |
Schedule of Segment information to Consolidated Balance Sheets | The table below reconciles the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):
|  | As of March 31, |
|  | 2016 |  |  | 2015 |
Segment assets |  | $ | 855,371 |  |  | $ | 696,606 |
Investments in unconsolidated investees |  |  | 5,739 |  |  |  | 4,462 |
Notes and interest receivable |  |  | 116,237 |  |  |  | 138,163 |
Other assets |  |  | 129,920 |  |  |  | 106,457 |
Total assets |  | $ | 1,107,267 |  |  | $ | 945,688 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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