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REAL ESTATE ACTIVITY (Tables)

9 Months Ended

Sep. 30, 2016

Real Estate [Abstract]

Schedule of the real estate owned

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

Apartments		$	661,003
Apartments under construction			52,035
Commercial properties			217,974
Land held for development			95,223
Real estate subject to sales contract			49,155
Total real estate		$	1,075,390
Less accumulated depreciation			(165,681	)
Total real estate, net of depreciation		$	909,709

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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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