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REAL ESTATE ACTIVITY (Tables)

3 Months Ended

Mar. 31, 2016

Real Estate [Abstract]

Schedule of the real estate owned

Below is a summary of the real estate owned as of March 31, 2016 (dollars in thousands):

Apartments		$	622,761
Apartments under construction			26,625
Commercial properties			215,184
Land held for development			96,978
Land subject to sales contract			49,155
Total real estate		$	1,010,703
Less accumulated depreciation			(155,332	)
Total real estate, net of depreciation		$	855,371

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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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