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OPERATING SEGMENTS (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2016 and 2015, including capital expenditures and segment assets (dollars in thousands):

		Commercial
For the Three Months Ended September 30, 2016		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	7,658			$	22,408			$	—			$	1			$	30,067
Property operating expenses			(4,727	)			(10,693	)			(243	)			(8	)			(15,671	)
Depreciation			(2,236	)			(3,807	)			—				18				(6,025	)
Mortgage and loan interest			(1,700	)			(6,424	)			(550	)			(6,688	)			(15,362	)
Interest income			—				—				—				5,712				5,712
Gain on sale of income producing properties			—				—				—				—				—
Gain on land sales			—				—				555				—				555
Segment operating income (loss)		$	(1,005	)		$	1,484			$	(238	)		$	(965	)		$	(724	)
Balance Sheet Data
Capital expenditures		$	2,045			$	—			$	375			$	—			$	2,420
Real estate assets		$	151,900			$	613,431			$	144,378			$	—			$	909,709
Property Sales
Sales price		$	—			$	—			$	805			$	—			$	805
Cost of sale			—				—				(250	)			—				(250	)
Gain on sale		$	—			$	—			$	555			$	—			$	555

		Commercial
For the Three Months Ended September 30, 2015		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	8,107			$	19,671			$	—			$	48			$	27,826
Property operating expenses			(4,434	)			(9,373	)			(422	)			(270	)			(14,499	)
Depreciation			(2,358	)			(4,229	)			—				18				(6,569	)
Mortgage and loan interest			(1,871	)			(6,299	)			(1,345	)			(5,511	)			(15,026	)
Interest income			—				—				—				3,950				3,950
Gain on sale of income producing properties			—				735				—				—				735
Gain on land sales			—				—				1,958				—				1,958
Segment operating income (loss)		$	(556	)		$	505			$	191			$	(1,765	)		$	(1,625	)
Balance Sheet Data
Capital expenditures		$	1,404			$	(43	)		$	1,461			$	—			$	2,822
Real estate assets		$	161,876			$	496,329			$	163,867			$	—			$	822,072
Property Sales
Sales price		$	—			$	11,129			$	2,851			$	—			$	13,980
Cost of sale			—				(10,394	)			(1,854	)			—				(12,248	)
Recognized prior deferred gain			—				—				961				—				961
Gain (loss) on sale		$	—			$	735			$	1,958			$	—			$	2,693

Presented below is our reportable segments’ operating income for the nine months ended September 30, 2016 and 2015, including capital expenditures and segment assets (dollars in thousands):

			Commercial
For the Nine Months Ended September 30, 2016			Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	24,496			$	65,578			$	30			$	2			$	90,106
Property operating expenses			(14,658	)			(30,255	)			(1,159	)			(6	)			(46,078	)
Depreciation			(6,820	)			(10,958	)			—				55				(17,723	)
Mortgage and loan interest			(5,371	)			(18,689	)			(1,703	)			(17,788	)			(43,551	)
Interest income			—				—				—				15,791				15,791
Gain on sale of producing properties			6				4,919				—				—				4,925
Gain on land sales			—				—				3,925				—				3,925
Segment operating income (loss)		$	(2,347	)		$	10,595			$	1,093			$	(1,946	)		$	7,395
Balance Sheet Data
Capital expenditures		$	4,125			$	(146	)		$	1,873			$	—			$	5,852
Real estate assets		$	151,900			$	613,431			$	144,378			$	—			$	909,709
Property Sales
Sales price		$	1,500			$	8,100			$	8,139			$	—			$	17,739
Cost of sale			(1,743	)			(2,932	)			(4,214	)			—				(8,889	)
Gain on sale		$	(243	)		$	5,168			$	3,925			$	—			$	8,850
			Commercial
For the Nine Months Ended September 30, 2015			Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	22,172			$	52,948			$	—			$	103			$	75,223
Property operating expenses			(12,042	)			(24,243	)			(936	)			(246	)			(37,467	)
Depreciation			(6,516	)			(9,949	)			—				55				(16,410	)
Mortgage and loan interest			(5,129	)			(15,857	)			(3,766	)			(11,711	)			(36,463	)
Interest income			—				—				—				13,722				13,722
Gain on sale of producing properties			—				735				—				—				735
Gain on land sales			—				—				7,861				—				7,861
Segment operating income (loss)		$	(1,515	)		$	3,634			$	3,159			$	1,923			$	7,201
Balance Sheet Data
Capital expenditures		$	7,539			$	438			$	2,772			$	—			$	10,749
Real estate assets		$	161,876			$	496,329			$	163,867			$	—			$	822,072
Property Sales
Sales price		$	—			$	11,129			$	11,987			$	—			$	23,116
Cost of sale			—				(10,394	)			(6,863	)			—				(17,257	)
Recognized prior deferred gain			—								2,737				—				2,737
Gain on sale		$	—			$	735			$	7,861			$	—			$	8,596

Schedule of Segment information to Consolidated Statements of Operations

The table below reflects the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015 (dollars in thousands):

		For the Three Months Ended
		September 30,
		2016				2015
Segment operating income		$	(724	)		$	(1,625	)
Other non-segment items of income (expense)
General and administrative			(1,760	)			(1,417	)
Net income fee to related party			(67	)			(232	)
Advisory fee to related party			(2,749	)			(3,024	)
Other income			252				(72	)
Earnings from unconsolidated investees			146				81
Litigation settlement			—				(85	)
Income tax benefit			(46	)			16
Net loss from continuing operations		$	(4,948	)		$	(6,358	)

The table below reflects the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the nine months ended September 30, 2016 and 2015 (dollars in thousands):

		For the Nine Months Ended
		September 30,
		2016				2015
Segment operating income		$	7,395			$	7,201
Other non-segment items of income (expense)
General and administrative			(6,197	)			(5,215	)
Net income fee to related party			(193	)			(567	)
Advisory fee to related party			(8,174	)			(7,625	)
Other income			1,452				4,040
Earnings from unconsolidated investees			430				276
Litigation settlement			—				(203	)
Income tax benefit			(45	)			107
Net income (loss) from continuing operations		$	(5,332	)		$	(1,986	)

Schedule of Segment information to Consolidated Balance Sheets

The table below reflects the reconciliation of segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):

		As of September 30,
		2016				2015
Segment assets		$	909,709			$	822,072
Investments in unconsolidated investees			6,024				5,152
Notes and interest receivable			119,074				115,415
Other assets			104,589				144,472
Total assets		$	1,139,396			$	1,087,111

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-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 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

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Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

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-Section 50
-Paragraph 30
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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

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599

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-Section 50
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599

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