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REAL ESTATE (Tables) | 12 Months Ended
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Dec. 31, 2018
Real Estate [Abstract] |
Schedule of real estate owned | A summary of our real estate owned as of the end of the year is listed below (dollars in thousands):
|  | 2018 |  |  | 2017 |
Apartments |  | $ | 126,274 |  |  | $ | 733,620 |
Apartments under construction |  |  | 21,916 |  |  |  | 105,452 |
Commercial properties |  |  | 224,162 |  |  |  | 200,797 |
Land held for development |  |  | 83,641 |  |  |  | 77,560 |
Real estate subject to sales contract |  |  | 3,149 |  |  |  | 48,234 |
Total real estate, at cost, less impairment |  |  | 459,142 |  |  |  | 1,165,663 |
Less accumulated deprecation |  |  | (78,099 | ) |  |  | (177,546 | )
Total real estate, net of depreciation |  | $ | 381,043 |  |  | $ | 988,117 |
Schedule of estimated useful lives of the assets | Depreciation is computed on a straight line basis over the estimated useful lives of the assets as follows:
Land improvements | 25 to 40 years
Buildings and improvements | 10 to 40 years
Tenant improvements | Shorter of useful life or terms of related lease
Furniture, fixtures and equipment | 3 to 7 years

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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- Definition 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. + References No definition available. + Details
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