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OPERATING SEGMENTS (Tables)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Schedule of segment operating income including segment assets and expenditures

Presented below is our reportable segments’ operating income for the three months ended March 31, 2018 and 2017, including segment assets and expenditures (dollars in thousands):

 

    Commercial                          
For the Three Months Ended March 31, 2018   Properties     Apartments     Land     Other     Total  
Rental and other property revenues   $ 7,555     $ 23,525     $ 1     $ 2     $ 31,083  
Property operating expenses     (3,749 )     (10,582 )     —       (93 )     (14,424 )
Depreciation     (2,292 )     (4,149 )     —       50       (6,391 )
Mortgage and loan interest     (1,849 )     (5,456 )     (195)     (8,224 )     (15,724 )
Interest income     —       —       —       5,109       5,109  
Gain on land sales     —       —       1,335       —       1,335  
Segment operating income (loss)   $ (335)     $ 3,338     $ 1,141     $ (3,156 )   $ 988  
Capital expenditures     633       —     —     —       633
Real estate assets     135,799       726,244       116,436       651       979,130  
                                         
Property Sales                                        
Sales price   $ —     $ 2,512     $ 7,239     $ —     $ 9,751
Cost of sale     —       (2,512)       (5,904 )     —       (8,416 )
Gain on sale   $ —     $ —     $ 1,335     $ —     $ 1,335  

   

For the Three Months Ended March 31, 2017   Commercial Properties     Apartments     Land     Other     Total  
Rental and other property revenues   $ 9,159     $ 22,660     $ —     $ 3     $ 31,822  
Property operating expenses     (4,939 )     (10,746 )     (279 )     (301 )     (16,265 )
Depreciation     (2,302 )     (4,046 )     —       18       (6,330 )
Mortgage and loan interest     (1,606 )     (6,758 )     (694 )     (7,738 )     (16,796 )
Interest income     —       —       —       4,792       4,792  
Gain on land sales     —       —       445       —       445  
Segment operating income (loss)   $ 312     $ 1,110     $ (528 )   $ (3,226 )   $ (2,332 )
Capital expenditures     1,375       —       399       —       1,774  
Real estate assets     150,255       633,491       127,978       —       911,724  
                                         
Property Sales                                        
Sales price   $ —     $ —     $ 1,089     $ —     $ 1,089  
Cost of sale     —       —       (644 )     —       (644 )
Gain on sale   $ —     $ —     $ 445     $ —     $ 445  

  

Schedule of reconciliation 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 March 31, 2018 and 2017 (dollars in thousands):

 

    For the Three Months Ended
March 31,		  
    2018     2017  
Segment operating income (loss)   $ 988     $ (2,332 )
Other non-segment items of income (expense)                
General and administrative     (2,341 )     (2,031 )
Net income fee to related party     (53 )     (60 )
Advisory fee to related party     (2,956 )     (2,659 )
Other income     3,657       1,120  
Earnings from unconsolidated investees     320       55  
Net loss from continuing operations   $ (385)     $ (5,907 )

 

Schedule of reconciliation of segment information to Consolidated Balance Sheets

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

 

    As of March 31,  
    2018     2017  
Segment assets   $ 979,130     $ 911,724  
Investments in unconsolidated investees     6,716       6,141  
Notes and interest receivable     128,756       121,696  
Other assets     197,721       174,164  
Total assets   $ 1,312,323     $ 1,213,725