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OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of operating segment, including segment assets and expenditures

Presented below is our reportable segments’ operating income for the three months ended June 30, 2019 and 2018, including segment assets and expenditures (dollars in thousands):

		Commercial
For the Three Months Ended June 30, 2019		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	8,020			$	3,818			$	—			$	2			$	11,840
Property operating expenses			(4,410	)			(2,018	)			(88	)			(807	)			(7,323	)
Depreciation			(2,732	)			(707	)			—				—				(3,439	)
Mortgage and loan interest			(1,947	)			(1,003	)			(41	)			(6,417	)			(9,408	)
Interest income			—				—				—				6,505				6,505
Loss on the sale of income producing property			—				(80	)			—				—				(80	)
Gain on land sales			—				—				2,517				—				2,517
Segment operating income (loss)		$	(1,069	)		$	10			$	2,388			$	(717	)		$	612
Capital expenditures		$	346			$	9,596			$	353							$	10,295
Property Sales
Sales price		$	—			$	3,096			$	7,602			$	—			$	9,497
Cost of sale			—				(3,176	)			(5,085	)			—				(7,060	)
(Loss) gain on sale		$	—			$	(80	)		$	2,517			$	—			$	2,437

		Commercial
For the Three Months Ended June 30, 2018		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
Gain on sale of income producing properties			—				—				—				—				—
Segment operating income (loss)		$	(1,050	)		$	3,465			$	(70	)		$	(3,817	)		$	(1,472	)
Capital expenditures		$	2,092			$	—			$	—			$	—			$	2,092
Property Sales
Sales price		$	2,313			$	—			$	—			$	—			$	2,313
Cost of sale			(2,313	)			—				—				—				(2,313	)
Gain on sale		$	—			$	—			$	—			$	—			$	—

Presented below is our reportable segments’ operating income for the six months ended June 30, 2019 and 2018, including segment assets and expenditures (dollars in thousands):

		Commercial
For the Six Months Ended June 30, 2019		Properties				Apartments				Land				Other				Total
Rental and other property revenues		$	16,247			$	7,518			$	—			$	4			$	23,769
Property operating expenses			(8,346	)			(4,076	)			(45	)			(853	)			(13,320	)
Depreciation			(5,107	)			(1,441	)			—				—				(6,548	)
Mortgage and loan interest			(3,914	)			(1,937	)			(370	)			(13,155	)			(19,376	)
Interest income			—				—				—				12,658				12,658
Loss on the sale of income producing property			—				(80	)			—				—				(80	)
Gain on land sales			—				—				4,733				—				4,733
Segment operating (loss) income		$	(1,120	)		$	(16	)		$	4,318			$	(1,346	)		$	1,836
Capital expenditures		$	4,045			$	17,434			$	2,832			$	—			$	24,311
Real estate assets			152,863				151,688				78,871				—				383,422
Property Sales
Sales price		$	—			$	3,096			$	16,317			$	—			$	18,212
Cost of sale			—				(3,176	)			(11,584	)			—				(13,559	)
Gain on sale		$	—			$	(80	)		$	4,733			$	—			$	4,653

		Commercial
For the Six Months Ended June 30, 2018		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	)
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 sale		$	—			$	—			$	1,335			$	—			$	1,335

Schedule of reconciliaton of segment information to consolidated statements of operations

The following table presents the reconciliation of segment information to the corresponding amounts in the Consolidated Statements of Operations for the three months ended June 30, 2019 and 2018 (dollars in thousands):

		For the Three Months Ended
		June 30,
		2019				2018
Segment operating income (loss)		$	612			$	(1,472	)
Other non-segment items of income (expense)
General and administrative			(4,127	)			(2,954	)
Net income fee to related party			(90	)			(53	)
Advisory fee to related party			(1,238	)			(2,929	)
Other income			3,364				7,537
Foreign currency translation (loss) gain			(2,325	)			5,889
Loss from joint venture			(236	)			—
Earnings from unconsolidated investees			173				277
Net (loss) income from continuing operations		$	(3,867	)		$	6,295

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

		For the Six Months Ended
		June 30,
		2019				2018
Segment operating income (loss)		$	1,836			$	(484	)
Other non-segment items of income (expense)
General and administrative			(6,732	)			(5,295	)
Net income fee to related party			(190	)			(106	)
Advisory fee to related party			(3,091	)			(5,885	)
Other income			7,031				9,438
Foreign currency translation (loss) gain			(8,143	)			7,645
Loss from joint venture			(1,291	)			—
Earnings from unconsolidated investees			231				597
Net (loss) income from continuing operations		$	(10,349	)		$	5,910

Schedule of reconciliaton segment information to consolidated balance sheets

The table below reconciles the segment information to the corresponding amounts in the Consolidated Balance Sheets:

		As of June 30,
		2019				2018
Segment assets		$	383,422			$	1,010,244
Investments in unconsolidated investees			74,911				6,993
Notes and interest receivable			159,582				126,507
Other assets			199,638				205,360
Total assets		$	817,553			$	1,349,104

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