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OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2018 and 2017, including segment assets and expenditures (dollars in thousands):

For the Three Months Ended June 30, 2018		Commercial Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	7,404			$	24,201			$	—			$	2			$	31,607
Property operating expenses			(4,238	)			(11,199	)			(135	)			22				(15,550	)
Depreciation			(2,323	)			(4,195	)			—				14				(6,504	)
Mortgage and loan interest			(1,893	)			(5,342	)			65				(8,737	)			(15,907	)
Interest income			—				—				—				4,882				4,882
Segment operating (loss) income		$	(1,050	)		$	3,465			$	(70	)		$	(3,817	)		$	(1,472	)
Balance Sheet Data
Capital expenditures		$	2,092			$	—			$	—			$	—			$	2,092
Property Sales
Sales price		$	2,313			$	—			$	—			$	—			$	2,313
Cost of sale			(2,313	)			—				—				—				(2,313	)
Gain (loss) on sale		$	—			$	—			$	—			$	—			$	—

For the Three Months Ended June 30, 2017		Commercial Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	8,553			$	23,030			$	—			$	4			$	31,587
Property operating expenses			(4,900	)			(10,211	)			(168	)			(150	)			(15,429	)
Depreciation			(2,397	)			(4,030	)			—				18				(6,409	)
Mortgage and loan interest			(2,121	)			(5,028	)			(389	)			(9,809	)			(17,347	)
Interest income			—				—				—				5,059				5,059
Loss on land sales			—				—				(476	)			—				(476	)
Segment operating (loss) income		$	(865	)		$	3,761			$	(1,033	)		$	(4,878	)		$	(3,015	)
Balance Sheet Data
Capital expenditures		$	557			$	—			$	186			$	—			$	743
Property Sales
Sales price		$	—			$	—			$	507			$	—			$	507
Cost of sale			—				—				(983	)			—				(983	)
Loss on sale		$	—			$	—			$	(476	)		$	—			$	(476	)

Presented below is our reportable segments’ operating income for the six months ended June 30, 2018 and 2017, including segment assets and expenditures (dollars in thousands):

For the Six Months Ended June 30, 2018		Commercial Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	14,959			$	47,726			$	1			$	4			$	62,690
Property operating expenses			(7,986	)			(21,782	)			(134	)			(72	)			(29,974	)
Depreciation			(4,616	)			(8,344	)			—				65				(12,895	)
Mortgage and loan interest			(3,742	)			(10,798	)			(130	)			(16,961	)			(31,631	)
Interest income			—				—				—				9,991				9,991
Gain on land sales			—				—				1,335				—				1,335
Segment operating (loss) income		$	(1,385	)		$	6,802			$	1,072			$	(6,973	)		$	(484	)
Balance Sheet Data
Capital expenditures		$	2,725			$	—			$	—			$	—			$	2,725
Real estate assets		$	135,288			$	762,410			$	111,899			$	647			$	1,010,244
Property Sales
Sales price		$	2,313			$	8,512			$	7,239			$	—			$	18,064
Cost of sale			(2,313	)			(8,512	)			(5,904	)			—				(16,729	)
Gain on land sales		$	—			$	—			$	1,335			$	—			$	1,335

For the Six Months Ended June 30, 2017		Commercial Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	17,711			$	45,691			$	—			$	7			$	63,409
Property operating expenses			(9,839	)			(20,956	)			(447	)			(451	)			(31,693	)
Depreciation			(4,699	)			(8,076	)			—				36				(12,739	)
Mortgage and loan interest			(3,727	)			(11,787	)			(1,083	)			(17,546	)			(34,143	)
Interest income			—				—				—				9,852				9,852
Loss on land sales			—				—				(31	)			—				(31	)
Segment operating (loss) income		$	(554	)		$	4,872			$	(1,561	)		$	(8,102	)		$	(5,345	)
Balance Sheet Data
Capital expenditures		$	1,932			$	585			$	—			$	—			$	2,517
Real estate assets		$	148,718			$	654,119			$	127,810			$	—			$	930,647
Property Sales
Sales price		$	—			$	—			$	1,596			$	—			$	1,596
Cost of sale			—				—				(1,627	)			—				(1,627	)
Loss on land sales		$	—			$	—			$	(31	)		$	—			$	(31	)

Schedule of reconciliation of segment information to Consolidated Statements of Operations

The table below presents the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the three months ended June 30, 2018 and 2017 (dollars in thousands):

		Three Months Ended June 30,
		2018				2017
Segment operating loss		$	(1,472	)		$	(3,015	)
Other non-segment items of income (expense)
General and administrative			(2,954	)			(1,995	)
Net income fee to related party			(53	)			(77	)
Advisory fee to related party			(2,929	)			(2,849	)
Other income			13,426				(3,541	)
Earnings from unconsolidated investees			277				153
Net income (loss) from continuing operations		$	6,295			$	(11,324	)

The table below presents the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the six months ended June 30, 2018 and 2017 (dollars in thousands):

		For the Six Months Ended
		June 30,
		2018				2017
Segment operating income (loss)		$	(484	)		$	(5,345	)
Other non-segment items of income (expense)
General and administrative			(5,295	)			(4,026	)
Net income fee to related party			(106	)			(137	)
Advisory fee to related party			(5,885	)			(5,508	)
Other income			17,083				(2,420	)
Earnings from unconsolidated investees			597				208
Net income (loss) from continuing operations		$	5,910			$	(17,228	)

Schedule of reconciliation of segment information to Consolidated Balance Sheets

The following table reconciles segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):

		As of June 30,
		2018				2017
Segment assets		$	1,010,244			$	930,647
Investments in unconsolidated investees			6,993				6,294
Notes and interest receivable			126,507				106,874
Other assets			205,360				188,921
Total assets		$	1,349,104			$	1,232,736

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- 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

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-Publisher FASB
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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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- 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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