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REAL ESTATE ACTIVITY (Tables)
6 Months Ended
Jun. 30, 2016
Real Estate [Abstract]  
Schedule of the real estate owned

Below is a summary of the real estate owned as of June 30, 2016 (dollars in thousands):

 

Apartments  $653,451 
Apartments under construction   46,196 
Commercial properties   215,932 
Land held for development   96,661 
Real estate subject to sales contract   49,155 
Total real estate  $1,061,395 
Less accumulated depreciation   (159,991)
Total real estate, net of depreciation  $901,404