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INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Tables)
 12 Months Ended
Dec. 31, 2018
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]  
Schedule of investments in unconsolidated investees

The summary data presented below includes our investments accounted for under the equity method, except for our investment in VAA which is discussed in detail in Note 2 ‘Investment in VAA’.

 

   Percentage ownership as of December 31, 
   2018   2017   2016 
Gruppa Florentina, LLC(1)   20.00%    20.00%    20.00% 

 

(1)Other investees.

 
Schedule of financial position and results of operations from our investees

The following is a summary of the financial position and results of operations from our investees (dollars in thousands):

 

    For the Twelve Months Ended December 31,  
    2018     2017     2016  
Other Investees                        
Real estate, net of accumulated depreciation   $ 13,810     $ 12,587     $ 13,641  
Notes receivable     11,238       2,724       9,561  
Other assets     32,566       32,176       31,135  
Notes payable     (11,287 )     (17,845 )     (9,834 )
Other liabilities     (7,320 )     (5,991 )     (8,284 )
Shareholders’ equity/partners capital     (39,007 )     (23,651 )     (36,219 )
                         
Revenue   $ 53,834     $ 38,747     $ 54,264  
Depreciation     (1,456 )     (1,279 )     (1,150 )
Operating expenses     (49,647 )     (35,410 )     (49,856 )
Interest expense     (673 )     (1,065 )     (793 )
Income (loss) from continuing operations   $ 2,058     $ 993     $ 2,465  
Income (loss) from discontinued operations     —       —       —  
Net  income (loss)   $ 2,058     $ 993     $ 2,465  
                         
Company’s proportionate share of earnings (1)   $ 412     $ 199     $ 493  

 

(1) Earnings represent continued and discontinued operations